Mango grows sales by 20% in first half of 2023
Fashion retailer Mango has grown its first-half turnover by 20% year-on-year to €1.45 billion and by 30% compared to pre-pandemic levels in 2019.
The Barcelona-based retailer said it put in a good performance in key markets in Spain, the US, Turkey, Italy and India where it has ambitious expansion plans.
Mango is also strengthening its channels and partners and now has a total of 2,615 stores worldwide after opening 40 stores since December.
Toni Ruiz, Mango’s chief executive of Mango, said: “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”,
Meanwhile online sales growth was close to 10% compared to the same period last year. By 30 June, Mango’s online business had more than 150 million users and 435 million log-ins.
During the period, the retailer took a further step in increasing the quality of its products with the launch of Capsule, its events collection for women, which uses materials such as silk, high-quality viscose, taffeta, feathers, fringes and sequins.
Mango said it will continue to accelerate its rate of investment which is set to exceed €200 million in 2023. Technology, logistics, stores and the new Mango Campus will account for the bulk of investment throughout the year.