Mango sales grow as it announces ‘ambitious expansion plans’

Mango reported a 20% increase in turnover year on year to reach €1.45bn (£1.24bn), which it said was also up 30% compared with the same period in 2019.

Mango said in a statement that its strongest-performing markets include Spain, the US, Turkey, Italy and India, and confirmed it has “ambitious expansion plans” within these locations.

The fashion retailer confirmed 15 new store openings in locations across the US including Georgia, Texas and California for the first time, in a bid to reach its target of 40 stores across the country by 2024 and for the US to “become one of its top five markets in terms of turnover”.

The retailer also credited performance in Turkey and India to “strong growth in both the physical and the online channel” and the opening of new stores respectively.

Mango said its events collection ‘Capsule’ was “warmly welcomed” by shoppers as it focused on increasing the quality of its products and providing exclusivity across its offer.

It also said customers “positively valued Mango’s collaborations” during the first half of the year, which it attributed particularly to its new spring/summer womenswear collection designed in collaboration with Los Angeles-based lifestyle retailer Simon Miller.

Mango has also “continued to strengthen its sustainability road map” through its creation of the Textile Waste Management Association, in partnership with other retailers including H&M and Inditex, “in order to manage textile and footwear waste generated in the Spanish market”.

Mango chief executive Toni Ruiz said: “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.

“The positive results in the first half of the year strengthen our business model and our ecosystem of various channels and partners.”