European fashion group Mango has reported revenue of more than €1.54bn ($1.68bn) in the first half (H1) of 2024, a 6.3% increase from the same period of the previous year.
This marks the highest revenue in the company’s 40-year history.
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The group attributes this achievement to the favourable reception of its collections and its Barcelona-designed value proposition.
In the first six months of the financial year, Mango launched new capsule collections, including a collaboration with Victoria Beckham for its Woman line and with Italian tailoring house Boglioli for Mango Man.
Mango Man experienced revenue growth above 21% while Mango Kids and Teen saw an increase of more than 11%.
The Woman segment, accounting for 79% of total revenue, was the main revenue driver with a growth of 4%.
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By GlobalDataInternationally, Mango’s business thrived, with 78% of its total revenue coming from outside its home market.
Spain, France, Turkey, Germany and the US were the top contributors.
The company also expanded its physical presence, opening 57 new stores in the first half of the fiscal year 2024 (FY24), bringing the total to 2,743 stores across 115 markets.
Mango aims to exceed 2,800 stores by the end of 2024.
The online channel also saw an uptick in revenue, now representing almost 33% of the total.
Mango CEO Toni Ruiz said: “In a very competitive environment, the company has achieved the best six months in its history, with growth above the market average.
“The excellent performance in revenue 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, which concluded 2023 with a record revenue of more than €3.1bn, is focused on reaching its 4E Strategic Plan goals.
Launched in March 2024, 4E aims to exceed €4bn in revenue by 2026.
In June 2024, Mango opened a new store in Barcelona, Spain dedicated to Mango Teen, its line for young customers.
