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Zara owner Inditex reports strong Q1 sales, profit growth

Spanish fashion giant Inditex has reported a surge in sales and net profit in the first quarter of the year. The group, whose portfolio includes brands Zara, Massimo Dutti, and Pull & Bear, posted a 36 percent year-on-year increase in sales to 6.7 billion euros in the three months to April 30. Inditex said its spring-summer collections have been...

Jun 8, 2022

Business

Inditex signs 100 million euro supply deal with Infinited Fiber Company

Zara owner Inditex has revealed a new partnership with circular textile firm Infinited Fiber Company in a supply deal valued at more than 100 million euros. The three-year arrangement will see Inditex buy 30 percent of the organisation’s annual future production volume of Infinna, a fibre made from 100 percent textile waste. The deal falls in...

May 13, 2022

Fashion Featured

Zara Woman launches collection for “outdoor” activities

Zara, the main chain of Spanish fashion giant Inditex strengthens its position in the growing and highly resilient sportswear sector with the launch of its first sports collection for women. A collection targeted at outdoor activities, designed especially for the practice of high-impact outdoor sports such as cycling or climbing. With the aim of...

May 9, 2022

ManagementFeatured

New era for Zara: Ortega Ortega takes the helm

Marta Ortega on Friday took the reins of Zara-owner Inditex, the group founded by her father, and faces an immediate challenge after the fashion giant temporarily closed shops in Russia, its second biggest market. With neither fanfare nor ceremony, the 38-year-old daughter of multibillionaire Amancio Ortega took over the world's biggest fashion...

Apr 1, 2022

ManagementFeatured

Zara owner Inditex almost triples FY net profit

Fashion giant Inditex has almost tripled its full-year net profit in fiscal 2021 as sales surpassed pre-pandemic levels. The group, which owns brands Zara, Massimo Dutti and Pull & Bear, reported net income of 3.2 billion euros in the year to January 31, an increase of 193 percent compared to the prior year. Net sales came in at 27.7 billion...

Mar 16, 2022

BusinessFeatured

Zara closes all Russian stores, as fashion industry calls to end Ukraine war

Zara parent Inditex has closed all of its 502 stores in Russia, as more retailers, brands and designers call for an end to Russia’s war on Ukraine. The high street giant follows H&M, Mango and Ikea, all of whom have temporarily shuttered their doors. While many businesses stop short of publicly condemning Russia for its Ukraine invasion, the...

Mar 6, 2022

Retail

Stepping up its expansion, Mango opened 221 stores in 2021

Nothing as trivial as a pandemic will slow down fast fashion’s rate of expansion. While many businesses, from Asos to Shein saw record growth online, some companies, like Mango, have been expanding on the physical front. The Spanish retail giant opened 221 new stores last year, reaching a total store portfolio of 2,447, a near 10 percent...

Feb 1, 2022

Retail

Zara mulls new stores in Ireland

Zara is reportedly considering opening new stores in Ireland despite taking a hit to its sales and profit during the pandemic. The Irish arm of the fast fashion giant swung to a loss of 893,000 euros in its last financial year compared to a profit of 4.5 million euros a year earlier. But despite the loss, the Inditex-owned business is looking to...

Dec 31, 2021

Fashion Featured

Zara invests in 238 million euro headquarters

Zara has invested 238 million euros into a new headquarters that will house the Zara sales and design teams within Inditex’s complex in Arteixo. Construction on the new headquarters will begin in January, subject to the necessary permissions, and are expected to last around two years. The new facilities, which are being designed with a focus on...

Dec 24, 2021

ManagementFeatured

Zara owner Inditex reports record Q3 sales, profit

The parent company of fast fashion giant Zara has reported record sales and profit in the third quarter of the year as it continues to recover from the pandemic. In the three months to October 31, sales at Inditex were 21 percent higher than a year earlier at constant currency, and 10 percent higher than 2019 levels. The Spanish group, which...

Dec 16, 2021

Business |ANALYSIS

Executive changes at Inditex take the market by surprise and leave investors uneasy

Inditex, the world’s largest apparel retailer, took the market by surprise when it announced changes at the helm. The departure of Pablo Isla and his replacement with the group’s founder’s daughter, Marta Ortega, as well as new CEO’s appointment dragged the company’s shares and left investors uneasy. On Tuesday, Inditex became the value that...

Nov 30, 2021

Business

New coalition with Inditex, Ikea, Amazon aims to decarbonise ocean cargo by 2040

A new coalition named Cargo Owners for Zero Emission Vessels (COZEV) facilitated by the international NGO Aspen Institute has committed to a first-of-its-kind target to progressively switch all of their ocean freight to vessels powered by zero-carbon fuels by 2040. Among the nine first signatories are Amazon, Brooks Running, Frog Bikes, Ikea,...

Oct 27, 2021