Mango sales grow 7% in the first half, to €1,852 M
International business contributes 77% of the turnover of the Catalan fashion company
BarcelonaMango has sold 7.2% more in the first six months of this year than in the same period last year, after discounting inflation: the Catalan brand has invoiced 1,852 million euros between January and June.
According to the company's president and CEO, Toni Ruiz, these results "reinforce" Mango's positioning as an "international fashion reference," the multinational reported in a statement this Monday. In the first half of last year, sales grew by 12% year-on-year.
Beyond the economic sphere, the company has been at the center of the news due to the arrest, last May, of Jonathan Andic, son of Mango's founder and, until then, vice-president of the company, accused of his father's homicide. Shortly after, at the end of May, he temporarily left all his positions at the multinational fashion company to focus on his defense for a future trial, which is still pending.
International business represents 77% of Mango's turnover, which closed June with 2,960 points of sale, located in 120 countries. In parallel, the online channel contributed 32% of sales, growing in double digits. Besides Spain, the main markets are France, Turkey, Germany, and the United States. During the first half, it opened 127 stores and renovated 37.
Until June, the fashion company invested up to 90 million euros in the expansion and improvement of its store network, as well as in increasing its technological capabilities, strengthening its operations, and expanding the Mango Campus. Looking ahead, it plans to open ten stores in the United Kingdom and the same number in Turkey this year. In the longer term, it has 45 openings in France and 27 in Italy planned by 2028.
Strategic Plan 2024-26
This year is the last of the 2024-2026 strategic plan, which sets the objective of closing the fiscal year with a turnover of 4 billion. Ruiz has considered that "the results of the first quarter reflect a positive evolution". The company values that the numbers "reaffirm the trajectory of sustained growth".
In the statement, Mango also boasts about the "main indicators of reputation and brand value", and assures that it has positioned itself "as one of the fashion brands with the most projection and recognition internationally". The workforce has more than 18,000 employees.