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Mango, the Barcelona-based global fashion company, has revealed its turnover jumped 20% to €1.45bn (£1.24bn) in the first six months of the year.
The performance comes as the company’s online sales increased almost 10% compared with the same period the previous year. Up until 30 June, the company’s online business exceeded 150 million users and sessions reached 435 million.
The company is present in more than 115 markets globally. The first six months showed Mango performing well in key geographical markets such as Spain, the United States, Turkey, Italy, and India, where the company plans growth and expansion.
Mango has a current network of 2,615 points of sale around the world, after carrying out more than 40 net openings since last December.
In Spain, Mango said it plans to expand its capillarity in the country with more than fifteen openings this year and the renovation of an additional fifteen stores, figures similar to its development in Italy, where the company will increase its presence with fifteen openings in 2023 to exceed 90 stores in the country.
Mango currently has ten points of sale and plans to open fifteen stores this year in the US, opening in the states of Georgia, Texas and California, in cities such as Los Angeles, San Diego, Houston, Dallas, San Anthony or Atlanta. The company said its goal is to reach around 40 points of sale in the United States by 2024.
In Turkey, the excellent sales performance in the first half is supported by strong growth in both the physical and online channels, while in India (Mango operates hand in hand with its local partner Myntra) the company said it plans on opening more than 35 stores in 2023 that will allow it to close the year with a network of more than 110 points of sale.
Mango said it will accelerate its investment rate with the forecast of exceeding 200 million euros in the whole of 2023. The company said it will focus on technology, logistics, stores and the new Mango Campus for the bulk of its investment effort in the whole of the year.
Toni Ruiz, CEO of Mango, said: “Our clients value Mango’s own design and style proposal and we are immersed in an ambitious international expansion plan to continue inspiring the world with our passion for fashion and lifestyle.
“The good evolution of the first semester strengthens our business model and our diverse ecosystem of channels and partners.”
