With revenues up 20 per cent year-on-year to £ 1.24 billion (€ 1.45 billion), Mango, one of Europe’s top fashion firms, claims ‘positive results’ for the first half of the year. This number exceeded pre-pandemic levels and was up 30 per cent from the previous year.
With the introduction of ‘Capsule,’ a women’s events collection distinguished by the quality of its materials like silk, feathers, and sumptuous finishes, Mango concentrated on raising its quality during the first half of the year. Customers responded favourably to Mango’s recent partnerships with people like American designer Simon Miller as well as the brand’s new events collection.
The store chain also had success with its global development, opening additional locations in countries including the US and Turkey. The company has opened over 40 net stores since last December, giving it a global network of 2,615 outlets.
Mango declared in May that it would add 13 more outlets to its existing network in the UK by the end of 2023. The growth largely targets the south and centre of the nation, in significant cities including Bristol, London, Manchester, and Leeds, as well as Mango’s first entry into cities like Brighton.
On the other hand, the online channel also keeps expanding, with sales increasing by 10 per cent on a yearly basis. The company’s internet business had over 150 million users and 435 million log-ins as of 30th June. The online store with the biggest sales growth is the Mango App.
The group’s rate of investment is expected to surpass 200 million euros in 2023 as it continues to pick up speed. The majority of investment will be made in technology, logistics, retail, and the new Mango Campus throughout the year. For instance, the business made an investment in Union Avatars earlier this month, a digital identification platform for making avatars with various aesthetics.
Toni Ruiz, Mango’s Chief Executive Officer, commented, “Our customers value Mango’s unique design proposal and style and we are currently engaged in an ambitious plan of international expansion, in order to continue inspiring the world with our passion for fashion and lifestyle Mango.”
