Mango closes 2020 with €1.842 billion turnover with online representing 42%

Spanish fashion giant Mango has revealed it closed 2020 with a turnover of €1.842 billion, and an EBITDA of €193m, with online income representing 42% of total turnover, after growing by 36% to reach €766m.

The turnover of physical stores fell by 43% in the wake of forced store closures during the various lockdowns, or limited opening hours and restricted customer numbers during much of 2020.

The company “remains in a healthy financial state,” with net bank debt falling by 20% to €156m.

More emphasis is now being directed at its online business and the company is accelerating its digital transformation by investing €27m in “priority projects related to digital transformation.”

The company has begun 2021 with four new strategic projects, which include the launch of a new homeware line, integration of the Violeta line within the women’s collection, new marketplace capacities for mango.com and the construction of the new Mango Campus.

In the words of Toni Ruiz, Mango’s CEO: “We have experienced an absolutely exceptional and unpredictable year for everybody. Thanks to the major commitment Mango has made to its online channel over the last 20 years, we have succeeded in it representing 42% of our total turnover in 2020, which is an extraordinary figure in our sector and a huge competitive advantage for our company”.

In the autumn of 2020, the company celebrated the 20th anniversary of the launch of its e-commerce with approximately 750 million visits, 25% more than the previous year.

Mango aims to post an online turnover of €1 billion in 2021 and to achieve this, it has several new projects: hyper-personalisation of the browsing and shopping experience on all devices, the use of new technologies based on artificial intelligence to improve the after-sales service and the inclusion of franchises in omni-channel retailing initiatives.