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Mango enters a “new stage of growth”



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Spanish fashion house Mango saw its sales increase by a quarter in the first half of the year and again exceeded pre-Covid levels, according to RetailDetail.eu.

Investments have tripled

In the first half of 2022, Mango increased its sales by 24.8% to 1.2 billion. Sales were higher than in the first half of 2019, when the Covid pandemic has not yet hit the retail sector. It is also said that gross profit is higher than a year ago, but the company does not provide concrete figures in this regard. However, due to the strong comparison base, online sales decreased by 3.9%.

CEO Tony Ruiz says the results show that Mango is in a new growth phase, Fashion Network reports. France, Italy, Spain and the United Kingdom are today the main markets, but the brand also focuses its investments on the United States and India. Mango has already accelerated its expansion recently and streamlined its operations, but will invest much more this year: it increases its investment budget to 124 million euros, three times more than it will have in 2021.

Mango wants to open another 300 outlets in Spain and France by 2025, while its iconic store on Boulevard Haussmann in Paris recently received a change of look. There is an ambitious expansion plan in Italy, especially in the south of the country. By 2024, Mango wants forty stores in the United States, above the new flagship on Fifth Avenue in New York. By the end of this year, the chain hopes to have over 2,600 stores worldwide.