A glance from Mango Teen Sundown.
Mango reported the best income in its 40-year historical past for the primary six months of the yr – greater than 1.543 billion euros, a 6.3% improve over the earlier yr – regardless of inflation and world politics.
Mango mentioned its collections and worth propositions – the model is predicated in and designed in Barcelona – are discovering favor with prospects each in its dwelling market of Spain and different worldwide markets, together with the U.S.
Spain, France, Turkey, Germany and the U.S. had the best income figures throughout the first half of the yr. The retailer has been making a continued push to open shops throughout the U.S., with items in Texas, Georgia, California and Florida.
The style retailer’s enlargement plans embody 57 internet retailer openings within the first half of the yr, to succeed in a retailer community of two,743 shops in additional than 115 markets worldwide. The aim is to exceed 2,800 items by the tip of 2024. The web section elevated income and represents practically 33% of whole income.
Mango Man grew 21%, and Mango Children and Teen, 11%. Mango Lady stays the driving power behind the group’s enterprise, accounting for greater than 79% of the corporate’s whole income.
For Mango Teen, the corporate created its first marketing campaign fully utilizing Artificial Intelligence for its restricted version Sundown Dream assortment, a part of its youth line.
“The marketing campaign consists of a visible with a mannequin and open air sunset-themed background for every of the greater than 10 clothes that make up the gathering,” mentioned Jordi Álex Moreno, chief know-how data officer at Mango. “It’s one of many first campaigns with using this know-how within the trend trade and one other clear instance of Mango’s dedication to innovation.”
Moreno added that the AI-driven method has supplied beneficial insights and artistic steerage throughout numerous facets [of the campaign], noting that the marketing campaign was realized by the collaboration of a number of inner groups at Mango, together with, Mango Teen’s design, artwork and styling, dataset and AI mannequin coaching, and the pictures studio, amongst others.
Mango, which closed a document 2023 monetary yr with income of greater than 3.1 billion euros, is immersed in attaining its 4E Strategic Plan, which plans to exceed income of 4 billion euros by 2026. To this finish, the corporate will reinforce its differentiated worth proposition and can promote an enlargement plan that foresees the opening of greater than 500 shops over the following three years.
“AI co-assisted in curating visible parts and inspiration and compiling a cohesive temper board that mirrored the dreamy, sunset-inspired aesthetic,” Moreno mentioned. “Finally, it additionally generated the photographs for the marketing campaign. Step one was making a dataset of photos for every outfit within the assortment. From this dataset, the AI engineering staff educated a synthetic intelligence mannequin to generate new photos at scale.”
Moreno mentioned the know-how is “a copilot to our staff to assist them velocity up and cut back repetitive duties, and permit them to have the ability to spend extra time on value-added work.”
The launch is a part of the Earn lever of Mango’s Strategic Plan for 2024 to 2026, which goals to create worth by technological improvement, knowledge administration and operational excellence.
With a robust dedication to innovation, Mango has developed greater than 15 machine studying platforms since 2018 that apply synthetic intelligence at completely different factors of its worth chain, similar to pricing and personalisation, amongst different areas.
“We have now over 15 instruments that support at completely different factors in our price chain, similar to pricing or personalization,” Moreno mentioned. “Midas [helps] with the pricing coverage on mango.com, and the retail chain. There’s Gaudi for product suggestions to prospects, or Iris, a dialog platform current in additional than 60 international locations and in additional than 20 languages to enhance customer support.”