The company attributes the group’s strong results to the positive reception of its collections by its customers and its value proposition, designed in Barcelona. During the first six months of the year, Mango has reinforced its commitment to quality with the launch of new capsule collections, such as the collaboration with Victoria Beckham for its Woman line, a new collaboration with the Italian tailoring house Boglioli for Mango Man and new editions of its Capsule and Selection collections, among other new initiatives.
Its commitment to aspirational and personal style, its excellent customer service and sustainability as a cross-departmental policy have managed to boost sales of its business lines during the first six months of the year. Mango Man, which recorded strong growth of more than 21%, and Mango Kids and Teen, which grew by more than 11% during the period, are particularly noteworthy. Woman remains the driving force of the group’s business, with a slight growth of 4%, achieving its highest revenue in the history of the company in a six-month period and representing 79% of total revenue.
“In a very competitive environment, the company has achieved the best six months in its history, with growth above the market average,” says Toni Ruiz, CEO of Mango. “The excellent performance in revenue during the first half of the year reinforces our commitment to our value proposition, our business model and the international expansion plan with which we want to continue to inspire the world with our passion for fashion”.
Mango, with a presence in more than 115 markets, recorded revenue in its international business in the first half of the year that represents more than 78% of the group’s total. By geographical region, Spain, France, Turkey, Germany and the US are the markets that recorded the highest revenue during the period.
During the first half of the year, the company continued its expansion of the physical channel, with 57 net store openings, to reach a total of 2,743 stores worldwide at the end of June, 1,725 of which are company-owned and franchised stores and 1,018 are corners. The company’s goal for the second half of the year is to continue to grow its store network, in order to exceed 2,800 stores by the close of 2024.
As part of its Strategic Plan, the company has ambitious expansion plans around the world, especially in the US with more new openings than expected. In Spain, Mango plans to open around twenty new stores during 2024, especially for its Mango Teen line. The company has just opened a new Teen store at Passeig de Gracia, in Barcelona, whereas in Italy and the UK each, Mango plans to open 15 to 20 new stores this year.
