Uniquely among the main fashion brands, Spanish Mango is positive about the first half of 2020. Despite the measures to stop the spread of Covid-19, the chain did not suffer significant turnover losses in important European markets.
Belgium best achiever
In “some of its main European markets” Mango sales are recovering quickly, the Spanish company states in a press release. Owing to a strong growth in online sales (+ 50 %), turnover remained quite close to the record levels of 2019.
By far the best results came from Belgium, where sales fell by just 4 % despite the coronavirus lockdowns. In four other very important markets (Germany, Russia, Switzerland and the Netherlands), sales went down between 10 and 14 %. However, the retailer did not report specifically about its Spanish home market, which was damaged quite badly during the six months in question.
50 % online growth
Mango seems to have profited from its continuous focus on e-commerce: online sales went up by 50 % in the period March-June. “These markets have performed better than expected since the start of the COVID-19 crisis and this demonstrates the wisdom of our commitment in recent years to accelerate e-commerce and omnichannel initiatives”, CEO Toni Ruiz explains
Mango started its e-commerce platform at the end of last century, which appears to have been an excellent decision: online sales are now good for 24 % of total sales and went up 26.7 % to 564 million euros in 2019. Mango had set a target of reaching an online share of 30 % by the end of the year, but now expects to reach that threshold even sooner.
