The fashion company Mango has broken its sales record in the first semester, with a growth of 20% compared to the same period last year. In the first six months of this 2023, the group owned by Isak Andic has entered more in the first half of this year, up to 1,451 million euros.
The last financial year was already very positive for the firm, with a turnover of 2,688 million euros, 20.3% above that of 2021, surpassing its previous milestone, the 2,374.4 million obtained in 2019. If the sales pace continues Currently, everything indicates that Mango could again exceed the 2022 record and approach 3,000 million sales this year.
“The good evolution of the first semester strengthens our business model and our diverse ecosystem of channels and partners,” said Toni Ruiz, CEO of Mango. The international expansion and the commitment to raise the quality and the average ticket of the garments have contributed to this increase in sales.
The company has highlighted this Wednesday the progress in its key markets (it is present in more than 115 countries), such as Spain, the United States, Turkey, Italy and India, where it concentrates its main growth plans. In Spain, Mango plans to open more than fifteen stores and reform an additional fifteen, 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.
In the United States it currently has ten points of sale and plans to open fifteen more establishments this year, following its expansion plan in the states of Georgia, Texas and California, in cities such as Los Angeles, San Diego, Houston, Dallas, San Anthony or Atlanta. The company’s goal is to reach around 40 points of sale in the United States by 2024 and for the country to become one of the top five markets in terms of sales.
Other markets in which Mango has evolved notably are Turkey and India, two of the strategic countries for the company. In the latter, the company operates hand in hand with its local partner Myntra, and this year it plans to open more than 35 stores, which would close the year with a network of more than 110 points of sale in the country.
In total, Mango has a network of 2,615 points of sale in all its markets, after carrying out more than 40 net openings since last December.
As for online sales, they increased by almost 10% compared to the same period of the previous year. Thus, until June 30, the company’s online business exceeded 150 million users and sessions reached 435 million. By channels, the Mango App is the online platform with the highest sales growth. The Barcelona-based group will accelerate its investment rate with the forecast of exceeding 200 million euros by 2023.
