Mango gets big e-tail boost, some key European markets recover
Aug 4, 2020
Spanish fashion retail giant Mango said this week that sales in some of its main European markets are recovering quickly and are “very close to the sales levels obtained in the first semester of 2019, the year in which the company achieved record sales”.
The recovery has been driven by strong growth in online sales, especially between March and June, when turnover increased by 50% compared to the same period last year.
Looking at individual countries that have performed well as far as overall sales are concerned, the company said that in the period, sales in Belgium fell by just 4%, while in Germany (its third biggest market worldwide) sales have fallen close to 10% year-on-year. In Russia, the Netherlands and Switzerland, all within the top 10 for turnover, the reduction is between 10% and 14%.
“The fact that these countries have managed to maintain high levels of turnover in such a difficult environment means the company expects to exceed 2019 sales by the end of the year,” it said.
CEO Toni Ruiz added that all of those markets have performed better than expected since the start of the pandemic crisis “and this demonstrates the wisdom of our commitment in recent years to accelerate e-commerce and omnichannel initiatives. We are continuing to reap the rewards of so many years of effort and investment in the digital transformation of the company.”
Sales via the firm's own e-commerce platform now account for almost 24% of total group turnover (the total figure was €564 million last year). The latest percentage represents growth of 26.7% compared to the previous year.
Earlier this year, the company set a target of online sales making up 30% of its total during 2020 and it now expects to beat this figure.
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