Mango predicts €1 billion from online sales

Worldwide
Published:  19 November, 2020

The Spanish High Street fashion brand forecasts €1 billion in revenue from online sales in 2021.

Speaking during a virtual press event, reported by media channel Fashion Network, Elena Carasso, Mango’s Online and Client Director, said that e-commerce sales, which already accounted for 24% of Mango’s revenues in 2019, have made strong progress this year, reaching record levels. "E-commerce has accelerated so much over the last few months that, from the start of the year to October, online revenues have already surpassed the total of €564 million reported by the company in 2019 by more than 5%", said Carasso, adding that the company expects online revenues to amount to €1 billion in 2021.

According to Carasso, Mango gained three million new digital customers this year, 900,000 of whom joined during months characterised by Covid-19-related restrictions, when online revenues rose more than 50%. The company launched its website in 1996 and set up its e-commerce platform in 2000, followed by an app in 2006. The platform is supported by 11 warehouses and is said to register an average of 42,000 orders a day, although it has seen peaks of 150,000. Headquartered in Spain, Mango has a network of more than 2,100 physical stores and employs over 14,000 people. Company revenues in 2019 totalled €2.37 billion.

In October, Mango released a list of Tier-1 suppliers, as per the requirements of the Transparency Pledge Standard. Read more here.

Source: Fashion Network

Credit: Mango