Mango said it transcended climate, inflation and geopolitical concerns in posting a 6.3 percent spike in first-half sales to just over 1.54 billion euros.
The Barcelona-based global fashion retailer is targeting in excess of 4 billion euros in annual volume in 2026 and to reach the goal foresees the opening of more than 500 locations over the next three years. Mango generated more than 3.1 billion euros in volume last year.
The company had 57 net store openings in the first half of the year, reaching a total of 2,743 locations in more than 115 markets worldwide. That breaks down to 1,725 company-owned and franchised stores and 1,018 corners inside other stores. Mango expects to exceed 2,800 locations by the close of 2024.
During the first half of this year, Mango‘s gains were led by menswear, which was up 21 percent, and the kids and teen collections, which were up a combined 11 percent. However, the company maintained that its women’s collection remains the “driving force” behind the group’s business, accounting for more than 79 percent of total turnover.
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By geography, Mango’s international business accounted for 78 percent of total turnover, with Spain, France, Turkey, Germany and the U.S. generating the highest turnover figures during the first half of the year.
Mango’s online channel “slightly” increased its turnover, though the increase was not specified. About one-third of Mango’s volume is generated online.
“In a very competitive environment, the company has achieved the best semester in its history, with growth above the market average,” Toni Ruiz, Mango’s chief executive officer, said in a statement Monday. “The excellent performance in turnover 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 is expanding most aggressively in the U.S. with more new openings than expected. Recent retail entries have occurred in Pennsylvania, Massachusetts and Virginia. Mango also increased its presence in California, with its first store in San Diego, and in New York, with a store at Hudson Yards. Other countries where Mango is aggressively expanding include the U.K. and Italy.
