Online revenue reaches 766 million euros! Fashion giant Mango accelerates digital transformation

Online revenue reaches 766 million euros! Fashion giant Mango accelerates digital transformation

Recently, Spanish fashion giant Mango revealed that its total turnover reached 1.842 billion euros in 2020 , a decrease of 500 million euros compared to 2019.

 

Online revenue reached 766 million euros and the number of visits exceeded 750 million

 

Mango , which has both offline and online businesses, has experienced many challenges in the past year. Due to the long-term blockade, Mango's physical stores were forced to close . The limited opening hours and limited number of customers in the stores led to a 43% drop in turnover in its physical stores .


Despite the difficult situation, Mango has managed to maintain a healthy financial position, with net bank debt reduced by 20% to 156 million euros.

 

The reason lies in Mango's emphasis on online business, which has accelerated its transformation to the online economy in the past year. Despite a sharp decline in turnover, the e-commerce business has developed strongly. It is reported that Mango's online revenue accounted for 42% of total turnover , reaching 766 million euros , an increase of 36% compared with 2019. Its earnings before interest, taxes, depreciation and amortization ( EBITDA) were 193 million euros .

 

It is reported that by the fall of 2020, Mango's e-commerce business had been established for 20 years , and the number of visits to its platform reached 750 million, an increase of 25% over the previous year.

 

Mango accelerates digital transformation and reaches the 1 billion euro mark

 

Currently , Mango will focus more on its online business and will accelerate its digital transformation and develop its e-commerce business by investing 27 million euros in "priority projects related to digital transformation."

 

It is reported that at the beginning of 2021 , Mango had four new strategic projects, including the launch of a new home furnishing series , the integration of the Violeta series into the women's series , new market capacity for mango.com and the construction of a new Mango campus.

 

Toni Ruiz, CEO of Mango , said: Mango has experienced an absolutely unusual and unpredictable year for everyone . Thanks to the investment Mango has made in its online channels over the past 20 years, we succeeded in achieving our target of 42% of total turnover online in 2020 , which is an amazing figure .

 

With the rapid development of e-commerce business, Mango's next goal is to achieve online sales of 1 billion euros in 2021 .

 

It is understood that to achieve this goal, Mango will continue to vigorously develop its online business, realize hyper-personalization of online browsing and shopping experience , and use new technologies based on artificial intelligence to improve after-sales service .

 

Recently, Mango also announced that it will open its online store to complementary brands , and lingerie brand Intimissimi will become the first new partner to sell on the platform.


Spain

Mango

Online Business

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