- Mango reports record revenues of over 1.543 billion euros for the first half of the year, marking a 6.3% year-over-year increase.
- Strong performance in key markets like Spain, France, Turkey, Germany, and the U.S. drives revenue growth.
- Expansion efforts include opening 57 new stores, aiming for a network of 2,800 stores by 2024.
- Online sales account for nearly 33% of total revenue, reflecting digital growth.
- Mango Man grows by 21%, Mango Kids and Teen by 11%, with Mango Woman contributing over 79% to total revenue.
- AI-driven campaign for the Sunset Dream collection under Mango Teen showcases innovative use of AI in fashion marketing.
- Over 15 machine learning platforms deployed since 2018 enhance pricing, personalization, and customer service globally.
Main AI News:
Mango has reported unprecedented revenues exceeding 1.543 billion euros in the first half of the year, marking a substantial 6.3% increase compared to the previous year, despite global economic uncertainties. The Barcelona-based fashion giant attributes this success to robust consumer demand across key markets such as Spain, France, Turkey, Germany, and the U.S., where strategic expansions have bolstered its market presence.
During this period, Mango continued its aggressive growth trajectory with the opening of 57 new stores, expanding its global footprint to 2,743 stores across more than 115 markets worldwide. Notably, online sales surged, accounting for nearly 33% of the total revenue. The growth was propelled by strong performances from Mango Man, Mango Kids, and Teen lines, with Mango Woman maintaining its position as the cornerstone of the company’s revenue, contributing over 79% of the total earnings.
In a testament to its commitment to innovation, Mango launched an AI-powered campaign for its limited edition Sunset Dream collection under the Mango Teen label. This pioneering initiative in the fashion industry utilized artificial intelligence to create compelling visual content. According to Jordi Álex Moreno, Mango’s Chief Technology Information Officer, AI played a pivotal role in generating visuals and providing creative insights, streamlining processes across various internal teams.
Moreno emphasized that AI technology acts as a valuable tool, enhancing operational efficiency by automating repetitive tasks and empowering employees to focus on strategic initiatives. Mango’s strategic roadmap, known as the 4E Strategic Plan, aims to exceed 4 billion euros in revenue by 2026, driven by continuous innovation in technology and operational excellence.
Since 2018, Mango has been at the forefront of integrating AI across its value chain, developing over 15 machine learning platforms that optimize pricing strategies, personalize customer experiences, and improve global customer service. This comprehensive approach underscores Mango’s commitment to maintaining a competitive edge in the global market, harnessing AI to drive growth, efficiency, and customer engagement.
Conclusion:
Mango’s robust performance in the first half of the year, driven by strong revenue growth, strategic expansions, and innovative AI initiatives, underscores its competitive edge in the global fashion market. The company’s commitment to leveraging artificial intelligence across its operations not only enhances efficiency but also positions Mango favorably for sustained growth and customer engagement amidst evolving market dynamics.
