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Fast fashion giant Inditex accelerates sustainability targets

Zara owner Inditex has announced an acceleration of a number of sustainability targets, including a new aim to achieve net-zero emissions by 2040, ten years earlier than previously planned. The fast fashion giant also aims for all the cotton it uses to be “more sustainable” by 2023, two years ahead of schedule, and for all energy in its direct...

Jul 14, 2021

Fashion

The world's biggest fashion brands remain reliant on plastics

Despite bold pledges to create a more sustainable future, global fashion brands continue to rely on plastics by using synthetic fibres in their collections. According to a report by Changing Markets these fibres are fueling plastic waste and the climate crises due to the fossil fuels needed to make them. Rampant greenwashing 59 percent of claims...

Jul 9, 2021

Fashion

Uniqlo, Inditex, SMCP and Skechers accused of profiting from the forced labour of Uighurs

On the eve of China’s 100th year anniversary celebration of its Chinese Communist Party, France launched an investigation into the “concealment of crimes against humanity” by global textile giants, including Inditex and Uniqlo, who stand accused of having profited from the forced labour of Uighurs. France’s National Anti-Terrorism Prosecutor’s...

Jul 2, 2021

Management

Zara owner Inditex swings to Q1 profit as sales rebound

Spanish fashion giant Inditex has reported soaring sales in the first quarter of the year as it swung to a profit. For the three months ended April 30, sales soared 50 percent to 4.9 billion euros compared to last year when the company was hit hard by global store closures amid the first wave of the pandemic. Compared to pre-Covid 2019 levels of...

Jun 9, 2021

Retail

Inditex launches AR game for Pull & Bear girls collection

Spanish apparel giant Inditex, which owns Zara, Zara Home, Massimo Dutti, Bershka, and Pull & Bear, has ventured into the world of gaming. Via its youth brand Pull & Bear, the company has launched ‘Pacific Game’, an augmented reality (AR) game available on Facebook and Instagram. The game forms a part of Pull & Bear’s ‘Pacific girls’ collection,...

May 5, 2021

Fashion

Zara collaborates with Starter Black Label

2021 marks the 50th Anniversary of Starter, the athletic brand established in 1971, owned by Iconix Brand Group. To mark the occasion, the Starter brand has launched a partnership with Inditex owned brand Zara to develop and sell a capsule collection for spring/summer 2021. The Starter brand quickly rose to global stardom by connecting fans with...

Apr 1, 2021

Retail

Inditex accused of turning a blind eye amid rising tensions in China boycott crisis

On Thursday, China, backed by the Chinese government itself, started retaliating against the Western boycott of cotton produced in the ‘Uyghur labor camps’ of Xinjiang, calling for its own boycott against international fashion companies. The boycott primarily affected Swedish retail giant H&M on Thursday, but is now also being launched against...

Mar 26, 2021

Retail

Fast fashion retailers are closing their stores, shrinking global retail

The annus horribilis for global retailers in the fashion industry is yet to end. Covid-19 has been an ongoing catalyst for transformation and at worst had a Darwinian effect, spurring an international reduction of physical shops. According to Modaes, Spain’s economic fashion news outlet, an estimate of closures from three large players including...

Mar 16, 2021

Business

Fast Retailing unseats Inditex in terms of market capitalization for the first time

The parent group of Uniqlo has unseated Inditex for the first time in history, rising to the title of the world’s largest retailer by market capitalization after closing the sessions on Monday and Tuesday, exceeding 100 billion dollars in value on the stock market. The value of Fast Retailing, the Japanese company that owns the fast fashion...

Feb 17, 2021

Report

Inditex to close all Bershka, Pull & Bear and Stradivarius stores in China

Spanish fashion giant Inditex is reportedly set to close all its Bershka, Pull & Bear and Stradivarius stores in China. Bershka currently has 34 stores in mainland China, Pull & Bear has 37, and Stradivarius has 22. The stores could be closed as soon as January, WWD reports, citing anonymous sources. The three brands, which are all around the...

Jan 8, 2021

Management

Inditex profit drops but sales recover over Q2

Inditex generated a net profit of 671 million euros in the nine months of FY20 and 866 million euros in the third quarter, while Ebitda reached 1.85 billion euros in the quarter, down from 2.23 billion euros in the prior year. The company said in a statement that the sales trend continued to improve with sales declining by 14 percent or 10...

Dec 15, 2020

Fashion

Zara Home introduces music capsule collection

Inditex-owned brand Zara Home has introduced its first music capsule collection, the ‘Music Collection’, in collaboration with French DJ and co-founder of the Chapel brand Agathe Mougin and technology retailers including Audio Technica and Röth & Meyer. The tech collection is dedicated to music and in particular to vinyl collectors. The line is...

Nov 25, 2020