Mango, a prominent Spanish fashion retailer, has reached a historic milestone with its highest ever half-year revenue, exceeding €1.5bn (£1.3bn).
- Driven by robust sales in France, Turkey, Germany, the US, and Spain, the company’s revenue increased by 6.3% compared to the same period last year.
- International markets now contribute to 78% of Mango’s overall revenue, with a strategic expansion of 57 new stores globally, including the first Mango Teen store in the UK.
- The menswear division led growth with a 21% increase, while the kids and teens categories rose by 11%, and womenswear, the largest revenue contributor, saw a 4% uplift.
- Despite slightly slower growth than previous years, Mango’s CEO, Toni Ruiz, highlights the company’s exceptional performance as the best in its 40-year history.
Spanish fashion retailer Mango has achieved a remarkable milestone in its financial history, reporting a half-year revenue exceeding €1.5bn for the first half of 2024. This record represents a significant 6.3% increase from the previous year, attributed to strong sales across key markets including France, Turkey, Germany, the United States, and Spain.
A major factor in this success is Mango’s international business, which accounts for 78% of the total revenue. The company’s aggressive global expansion strategy included opening 57 new stores, aiming to end the year with 2,800 stores worldwide. Noteworthy openings in the UK feature the inaugural Mango Teen store on Carnaby Street.
The menswear category recorded a substantial 21% growth, standing out as the fastest-growing division. Meanwhile, the Mango Kids and Teen segments experienced an 11% rise in sales, and the womenswear division, which remains the largest revenue generator, achieved a 4% increase.
Despite the 6.3% growth being less than the 20% and 24.8% growth seen in 2023 and 2022 respectively, Mango CEO Toni Ruiz emphasises that the latest results are the company’s best in its 40-year history. Ruiz noted, “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 performance this half-year underscores its robust global strategy and commitment to growth.
