Mango Generates Double-digit Sales Gain in First Half

Mango, the Barcelona-based global fashion retailer, posted a solid first half marked by revenues rising 12 percent to 1.73 billion euros.

The company attributed the double-digit gain to expansion, its value proposition, and some high-quality capsule collections.

Spain, France, Turkey, Germany and the U.S. generated the highest turnover figures.

In the first half, the retailer opened 78 stores and refurbished another 30 locations. Mango has 2,925 points of sale in more than 120 markets globally. Brick-and-mortar stores represent 69 percent of the company’s volume.

Mango had several “firsts” during the half, including opening in Barcelona its first home shop; its first Mango Man stand-alone shop in the U.K., and its first Mango Teen shop in Portugal.

“In an uncertain sectorial, macroeconomic and geopolitical environment, the positive results of the first half confirm the robustness of our model and strengthen our strategy,” said Toni Ruiz, Mango’s chairman and chief executive officer, in a statement Thursday. “We continue to grow with a long-term vision, execute a differential value proposition that is well received by our customers around the world, and with continuous improvement of our sales channels.”

Mango also hit a milestone with its multiyear U.S. expansion, where it opened its 50th store last month in Washington Square, Portland, Ore. The firm plans to open over 20 stores in the U.S. this year, bringing the total to around 65.

Mango’s exclusive capsule collections during the first half of this year included a collaboration with British-Indian designer Supriya Lele. Mango also named model Kaia Gerber as its brand ambassador.

Additionally, Ruiz was named chairman in addition to serving as CEO; Jonathan Andic was named vice chairman; two independent directors were appointed to the board, Manel Adell and Helena Helmersson, and Marlies Hersbach was promoted to online and e-commerce chief officer and member of the Group Management Committee.

Mango also allocated 110 million euros to strategic products during the first half, 70 percent of which went to shop openings and refurbishments. The remaining 30 percent went to the development of Mango’s new corporate campus, technology and the last phase of the expansion of the logistic center in Lliçà.

In December, Isak Andic, non-executive chairman and founder of Mango, died in an accident.