Mango reports surging sales up by 20% in first half of year

Barcelona-based Mango, one of Europe’s leading fashion groups, reports "positive results" for the first half of the year, with revenues up by 20% year-on-year to £1.24 billion (€1.45 billion). 

This figure was up 30% when compared to 2019, surpassing pre-pandemic figures.

During the first half of the year, Mango focused on increasing its quality, with the launch of ‘Capsule’ - an events collection for women characterised by the quality of its materials such as silk, feathers and opulent finishes. Not only did customers react positively to the new events collection, but also to Mango’s recent collaborations with those such as American designer Simon Miller.

The retailer also saw success with its international expansion, with new stores in territories such as the US and Turkey. After making over 40 net store openings since last December, the company now boasts a network of 2,615 stores worldwide.

In May, Mango announced its plans to increase its presence in the UK by opening 13 new stores by the end of 2023. The expansion mainly focuses on the south and centre of the country in major cities such as Bristol, London, Manchester and Leeds, as well as Mango’s arrival in cities such as Brighton for the first time.

On the other hand, the online channel also continues to grow with sales up by 10% year-on-year. By 30 June, the company’s online business had more than 150 million users and achieved 435 million log-ins. The Mango App is the online platform with the highest growth in sales.

The group continues to accelerate its rate of investment with a forecast to exceed the figure of 200 million euros in 2023. Technology, logistics, stores and the new Mango Campus will account for the bulk of investment throughout the year. Earlier this month, for example, the company invested in Union Avatars, a digital identity platform for creating avatars in different styles.

Toni Ruiz, Mango’s Chief Executive Officer, commented: "Our customers value Mango’s unique design proposal and style and we are currently engaged in an ambitious plan of international expansion, in order to continue inspiring the world with our passion for fashion and lifestyle Mango.

"The positive results in the first half of the year strengthen our business model and our ecosystem of various channels and partners."