Spanish fashion retailer Mango has achieved its highest ever revenue for the first half of the year, exceeding €1.5 billion (£1.3 billion).
- The revenue represents a 6.3% increase over the same period last year, driven by robust sales in key international markets.
- Mango’s strategic expansion, including 57 new stores in the first six months, played a critical role in their financial success.
- Notable growth was seen in Mango’s menswear division, with a 21% increase year-on-year, leading all product categories.
- The company plans to continue its global expansion, with a targeted 2,800 stores by the year’s end.
Spanish fashion retailer Mango has reported a significant milestone, achieving its highest revenue for the first half of the year, exceeding €1.5 billion (£1.3 billion). This record marks a 6.3% increase compared to the same period in the previous year. The company’s financial success can largely be attributed to strong sales performances in major markets, including France, Turkey, Germany, the United States, and Spain.
Mango’s international operations, which encompass 2,743 stores across more than 115 markets worldwide, contributed 78% of the total revenue. The strategic opening of 57 new stores in the first half of 2024, including the launch of its first dedicated Mango Teen store on Carnaby Street, London, underscores its growth strategy. The retailer’s ambition to end the year with 2,800 stores globally, including new ventures in the United Kingdom, reflects its commitment to expanding its market presence.
The menswear division experienced the highest growth among the categories, with a remarkable 21% increase year-on-year. Meanwhile, Mango Kids and Teen saw an 11% rise in sales. The womenswear division, accounting for 79% of the total revenue in the first half of 2024, reported a 4% year-on-year increase. While the overall 6.3% revenue growth is lower than previous interim results, where 20% was recorded in 2023 and 24.8% in 2022, CEO Toni Ruiz remained optimistic about the company’s performance. He noted, “The company has achieved the best six months in its 40-year history, with growth above the market average.”
The exceptional performance seen in the first semester reinforces Mango’s dedication to its value proposition, business model, and international expansion plan aimed at inspiring the global community with its fashion offerings.
Mango’s record revenue achievement reflects its strategic focus on international growth and product diversification.
