The darkest period of the pandemic seems to have passed for Mango, which records an increase in sales almost equal to those of 2019, the year in which the Spanish brand had a significant increase in liquidity.
CEO Toni Ruiz said he was satisfied: “The performance of these markets is proving to be better than expected after the start of the crisis linked to Covid-19 and demonstrates the goodness of our choice in recent years to accelerate the growth of e-commerce and omnichannel”.
A positive contribution to the recovery was e-commerce, which recorded 50% of revenues between March and June. Today, online turnover represents 24% of the group’s revenues; the goal is to bring it to 30% by the end of this year.
Belgium tops the list of countries that have performed best, with only a -4% drop in sales. Germany follows at -10% and then Russia, the Netherlands, and Switzerland oscillate between -10% and -14%.
Cover credits: Fashiongonerogue.com