The fashion group Mango specified an invoice of 1,214 million euros in the first half, 25% more than in 2021, and announced a record investment year of more than 124 million euros, almost three times the previous year. CEO Toni Ruiz confirmed in a statement that the semester is “another sign of the new phase of growth” for Mango, which is leaving behind the pandemic with double-digit growth.
“Our product is appreciated and valued by customers and we have accelerated our expansion and streamlining of operations,” he explained. Mango, which is present in 110 markets, has registered a positive evolution in the main geographies where it operates, with the exception of Russia, where it has decided to definitively abandon direct sales, after 23 years of operation , which has provided for 20. million euros.
The group hopes to recover pre-pandemic sales figures this year. Mango ended 2021 with a turnover of 2,234 million, with an increase of 21.3% compared to 2020 and close to 2,374 million in 2019. At the end of the first half, the company had a network of 2,508 points of sale worldwide, after 61 net openings since December.
Mango highlighted the “key” geography of Spain, France, the United Kingdom and Italy, where it has an “ambitious” expansion plan, especially in the south of the country. He also emphasized the evolution of the company in the United States and India, with the forecast that it will reach a network of 40 stores in the North American country in 2024 and that between 15 and 20 openings would be made in the second half of the year in Asia. country
To accompany the new phase of development, the group will accelerate its investment rate with a forecast of more than 120 million euros in 2022 as a whole, which will imply an almost threefold increase in 2021 investment.
At the end of the first semester, Mango has completed the civil works to expand its logistics center in Lliçà d’Amunt (Barcelona) and has begun the installation of intralogistics systems. The expansion, which will involve a global investment of 88 million upon completion, will come into effect in 2023 and will serve to centralize all of Mango’s online operations.
Mango will also maintain its commitment to physical stores with the forecast that it will add more than a hundred points of sale to its distribution network in the second half of the year and end 2022 with more than 2,600 points of sale.
Another of Mango’s ongoing projects is the construction of its new corporate headquarters, the new Mango Campus, which will come into effect in 2024.