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.

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Mango

Online Business