Mango has closed the first half of the fiscal year with revenues of 1.852 billion euros, which represents a year-on-year increase of 7.2% and 10.7% if the effect of currencies is excluded, according to the company communicated this Monday.
The firm has emphasized that these results "evidence the strength of its value proposition and reaffirm the trajectory of sustained growth" recorded in recent years.
The president and CEO, Toni Ruiz, has reiterated that the Strategic Plan 2024-2026 aims to close the fiscal year with a turnover of 4.000 billion euros.
"The results of the first half reflect a positive evolution, with growth above the market average, and reinforce our positioning as an international benchmark in fashion," the executive has stated.
Between January and June, Mango allocated 90 million euros to investments focused on the expansion and modernization of its store network, the strengthening of its operations and technological capabilities, and the expansion of the Mango Campus.
During this period, the company carried out 127 openings and 37 renovations of establishments, finishing June with more than 2,960 points of sale spread across more than 120 countries.
Boost of international business and online channel
The company has detailed that its international activity "continued to show a solid evolution" during the semester, until concentrating 77% of total turnover. Its main markets were Spain, France, Turkey, Germany, and the United States.
It has also pointed out that it is implementing a plan to open 45 stores in France by 2028 —15 of them this year— with an investment of 66 million euros; a strategic alliance with Coin to launch 27 stores in Italy by 2028, as well as the intention to open 10 stores in the United Kingdom and another 10 in Turkey throughout this fiscal year.
The online business recorded double-digit growth and reached 32% of the company's global turnover.