Mango has achieved a record half-year revenue, surpassing €1.5bn, guided by notable international sales performance.
- The Spanish retailer reported a notable 6.3% revenue increase from the first half of 2023, marking the highest in its history.
- International operations were essential, contributing 78% to Mango’s total revenue, with over 2,743 stores in 115 markets.
- Key strategic expansions included 57 new stores opened in early 2024, with growth plans targeting the UK specifically.
- Significant category growth was seen in menswear with a 21% increase, while womenswear composed 79% of total revenue.
In the first half of 2024, Spanish fashion retailer Mango surpassed its previous records with half-year revenues exceeding €1.5bn. This impressive milestone denotes a 6.3% increase compared to the same period in 2023, reflecting strategic growth across major international markets such as France, Turkey, Germany, and the United States.
Mango’s international business has been pivotal, contributing to 78% of the total revenue. The brand’s presence extends to more than 115 markets worldwide, operating 2,743 stores. With an ambitious expansion plan, Mango aims to conclude 2024 with 2,800 stores globally. The retailer has targeted the UK for growth, opening 20 new locations, including ventures into Northern Ireland and central and southern England.
The retailer’s menswear division saw remarkable growth, achieving a 21% year-on-year increase. Meanwhile, the kids’ and teens’ sections experienced an 11% rise. Although women’s clothing accounted for the majority, comprising 79% of the revenue, it increased modestly by 4% compared to the previous year.
Despite the slower growth rate of 6.3%, down from 20% in 2023 and 24.8% in 2022, Mango’s CEO Toni Ruiz stated the company’s performance exemplifies an outstanding development within the last 40 years. Ruiz remarked, “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.”
Mango’s record-breaking results reinforce its strategic approach and commitment to expanding its international footprint.
