×
6 712
Fashion Jobs
HARVEY NICHOLS KNIGHTSBRIDGE
Collect in Store Consultant
Permanent · LONDON
FRASERS GROUP
HR Systems Administrator
Permanent · SHIREBROOK
FRASERS GROUP
Site SEO Manager
Permanent · STRETFORD
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, Stratford (Westfield)
Permanent · London
HOLLISTER CO. STORES
Hollister CO. - Graduate Manager in Training, White City London (Westfield)
Permanent · London
SELFRIDGES
Tech Business Analyst - Customer & Omni
Permanent · LONDON
NEXT
Sales Manager - Coventry Arena RP
Permanent · COVENTRY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · SELBY
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · EPSOM
EVERLAST GYMS
General Assistant - Everlast Gyms
Permanent · SALE
EVERLAST GYMS
Assistant General Manager - Everlast Fitness
Permanent · DENTON
FRASERS GROUP
Warehouse Section Manager - Night Shift
Permanent · SHIREBROOK
VIVIENNE WESTWOOD
PA to Creative Director
Permanent · LONDON
DR. MARTENS
eu HR Administrator - French And/or German Speaking
Permanent · LONDON
HARRODS
Cleaning Operative- Day or Night
Permanent · LONDON
HARRODS
Uniform Security Officer (Cctv Operator)
Permanent · LONDON
FLANNELS
Beauty Brand Manager - Pat Mcgarth
Permanent · BELFAST
HUGO BOSS UK LTD.
Sales Executive - Shoes & Accessories + Bodywear & Hosiery
Permanent ·
HUGO BOSS UK LTD.
Womenswear Sales Manager
Permanent ·
HUGO BOSS UK LTD.
Ecommerce Marketplace Manager Northern Hub
Permanent ·
HUGO BOSS UK LTD.
Finance Manager (Maternity Contract)
Permanent ·
HUGO BOSS UK LTD.
Sales Executive Boss Menswear
Permanent ·
Ads
Published
Jul 14, 2022
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Mango sales soar in first half of 2022, Europe, US, India are key markets

Published
Jul 14, 2022

Mango has reported its first-half 2022 sales and said turnover was up 24.8% at €1.214 billion. It also beat the sales figure for the first half of 2019, the last H1 period before the pandemic.


Mango



The company added that its first six months saw higher gross operating profit compared to a year ago as it enjoyed a strong performance in key markets. It didn’t specify monetary figures here.

It all means the company has plenty of cash available and good reason to increase its investment rate, which is expected to be above €124 million for the year as a whole. That's three times what it invested in 2021 with the company focusing on technology, logistics, facilities and stores.

CEO Tony Ruiz said the H1 performance "is another sign of the new stage of growth which Mango is in. Our customers appreciate and value our product and we have accelerated our expansion and made our operations more efficient".

As far as the sales growth is concerned, Mango said it capitalised on the return to stores from April and the return of social events to drive turnover upwards.

Although it was affected by the Russia-Ukraine war and its withdrawal from Russia, its presence in more than 110 markets around the world was a strength for the firm and it said that business was positive in the main regions in which it operates. 

Mango cited strength in countries such as Spain, France, the US, UK, Italy and India and it has been focusing investments in these countries. For instance, it has just renovated its Haussmann flagship store in Paris, and plans to open 300 points of sale by 2025 in Spain and France. In the UK, it will be opening in the new Battersea Power Station shopping centre in London, and in Italy, it has “an ambitious expansion plan, especially in the south of the country”.

In the US, it opened a Fifth Avenue flagship in New York in May and is planning a network of 40 stores in the country by 2024. In India, meanwhile, it has advanced its development with partner Myntra to 50 points of sale, with an estimated 15 to 20 more openings due in the second half.

Activity such as this means that by the end of the first half it had 2,508 points of sale worldwide with 61 net openings since December. It expects to have more than 2,600 stores by the end of this calendar year.

But it's not only focused on physical stores and said it continued to demonstrate strength online, although the comparisons are very tough given that its online operations boomed during parts of 2021 when physical shops were closed. That meant its e-sales were down 3.9% in the first six months of this year, although the increases in physical stores more than made up for this.

Copyright © 2022 FashionNetwork.com All rights reserved.