Leading European fashion brand Mango closed the first six months of the year with the highest revenue in its 40-year history to 1.6 billion euros, representing a 6.3 percent increase over the same period last year.

As part of its 4E Plan announced last March, Mango, which celebrates its 40th anniversary in 2024, aims to exceed revenue of four billion euros in 2026. To achieve this, the company will reinforce its differentiated value proposition and open more than 500 stores over the next three years.

Commenting on the robust first half performance, Toni Ruiz, CEO of Mango, said in a statement: “In a very competitive environment, the company has achieved the best six months in its history, with growth above the market average. The excellent performance in revenue during the first half of the year reinforces our commitment to our value proposition, our business model and the international expansion plan with which we want to continue to inspire the world with our passion for fashion.”

Review of Mango’s first half results

The company attributes the group’s strong results to the positive reception of its collections by the customers and its value proposition, designed in Barcelona.

During the first half period, Mango launched new capsule collections, such as the collaboration with Victoria Beckham for its woman line, a new collaboration with the Italian tailoring house Boglioli for Mango man and new editions of its capsule and selection collections, among other new initiatives.

Mango man recorded strong growth of more than 21 percent and Mango kids and teens grew by more than 11 percent during the period under review.

Mango woman witnessed a slight growth of 4 percent, achieving its highest revenue in the history of the company and representing 79 percent of total revenue.

Mango expands international business in H1

With a presence in more than 115 markets, the company’s international business represented more than 78 percent of the group’s total. By geographical region, the company added, Spain, France, Turkey, Germany and the US are the markets that recorded the highest revenue during the period.

The company continued its expansion of the physical channel, with 57 net store openings, to reach a total of 2,743 stores worldwide at the end of June 2024, 1,725 of which are company-owned and franchised stores and 1,018 are corners.

The company’s goal for the second half of the year is to continue to grow its store network, in order to exceed 2,800 stores by the close of 2024.

Physical channel has been boosted not only by new openings, but also double digit growth in the like for like sales at constant rate. The company’s online channel also posted slight growth compared to the last year, representing approximately 33 percent of the total revenue.

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