As clothing shoppers increasingly seek of-the-moment relevance and omnichannel accessibility, Mango is growing its reach by seizing on attention-grabbing short-term launches and connected technologies. The company reported Monday (July 15) its highest-yet revenue in the first half of this year, reaching over 1.5 billion euros (about $1.6 billion), a 6.3% increase from the previous year. […]
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As clothing shoppers increasingly seek of-the-moment relevance and omnichannel accessibility, Mango is growing its reach by seizing on attention-grabbing short-term launches and connected technologies.
The company reported Monday (July 15) its highest-yet revenue in the first half of this year, reaching over 1.5 billion euros (about $1.6 billion), a 6.3% increase from the previous year. The achievement comes despite ongoing global economic challenges as many apparel retailers (such as Ted Baker, Express and Macy’s) are struggling.
“In a very competitive environment, the company has achieved the best six months in its history, with growth above the market average,” Mango CEO Toni Ruiz said in a statement. “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 attributed its financial success to, among other factors, the strong reception of its latest launches, especially its buzzy collaborations and capsule collections. These include its Victoria Beckham x Mango spring-summer women’s line, available in 26 countries, and its partnership in the fall with luxury Italian tailoring company Boglioli on a menswear line.
Young consumers are increasingly looking to influencers and celebrities such as Victoria Beckham to inform their shopping choices. The PYMNTS Intelligence special report “Generation Zillennial: How They Shop” found that 13% of U.S. consumers made a purchase in the last month at least partially because of a social media influencer or celebrity. Yet that share more than doubled to 28% for Generation Z.
Mango’s focus on generating buzz and on short-term collections is proving to be an effective one in a fashion industry increasingly led by companies such as Shein. These companies focus on turning out new, trend-focused garments as quickly as possible. A capsule collection is a limited-edition line of clothing that typically features a small number of versatile, trend-focused pieces designed to be easily mixed and matched. Mango’s move to prioritize these short-term collections has allowed it to continue to provide quality while seizing on consumers’ demand for timeliness.
Additionally, Mango is expanding. In the first half of the year, the company opened 57 new stores, bringing its global store count to 2,743 across more than 115 markets. This physical expansion is set to continue, with a target of surpassing 2,800 stores by the end of 2024.
Parallel to its physical expansion, Mango also strengthened its online presence, with digital sales accounting for nearly 33% of total revenue — a figure that the company said places it ahead of many competitors. The omnichannel approach, integrating online and offline experiences, has been crucial in attracting and retaining customers.
Shoppers want digital and physical access. PYMNTS Intelligence’s “2024 Global Digital Shopping Index: The Rise of the Click-and-Mortar
Shopper and What It Means for Merchants” found that 4 in 10 consumers are Click-and-Mortar shoppers, preferring to interact with both digital and physical channels during their shopping journey.
Mango is also entering new digital spaces to reach young consumers, such as selling virtual clothes within the online game platform and game creation system Roblox, a move that the apparel retailer announced earlier this year. In the game’s Outfit Shopping Mall, the apparel retailer enables users to buy Mango Teen digital clothing and items for their avatars, generating both direct sales and engagement with the brand.
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