Spanish fashion retailer Mango records 24.8% rise in revenues to € 1.2 billion

Spanish fast fashion bigwig Mango has witnessed its half-yearly revenue surge by an impressive 24.8 per cent year-on-year to clock € 1.2 billion.

The clothing retailer has attributed the growth to its efforts to capitalise on the shoppers coming back to stores, in addition to return of social events.

The first 6 months, reportedly, saw Mango deliver strong performance in major markets that included Spain, the US, the UK, France, Italy and India.

Here it is important to underline that the first half also saw the retailer cease its direct operations in Russia, for which it has made a provision of € 20 million.

The retailer, with a continual focus on strengthening its stores, technology and logistics, is hoping to see record investments this year.

Reportedly, Mango’s 2022 investment is almost three times the amount invested in 2021.

Earlier this month, the retailer had also announced to launch 20 stores in Canada in next 10 years.

Also Read: Mango’s Canadian expansion plans! Six new stores in Toronto by 2023

Mango is currently present in 110 markets, wherein Spain, France, Italy, the UK and Germany are the markets with the highest number of sales.