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Business

Coronavirus takes fast fashion's foot off the gas

Zara, H&M and Gap may be slowly reopening their stores but the coronavirus epidemic has had a devastating financial impact on the fast fashion sector, which needs a radical overhaul if it is to recover, experts say. Nearly 40 percent of businesses in the sector are expecting the impact to be "much worse" than that of the 2008 financial crisis, a...

Jun 11, 2020

Management

Inditex plans 1 billion euros investment to boost sales and profit

Inditex posted a 44 percent decline in its first quarter turnover to 3.3 billion euros. The company said in a statement that the decline was limited to 44 percent despite as many as 88 percent of the group’s stores being closed at some point during the quarter due to the Covid-19 pandemic. The company added that online sales recorded strong...

Jun 10, 2020

Business

Nike named “most valuable” apparel brand again

Sportswear giant Nike has claimed the title of the world’s “most valuable” apparel brand for the sixth consecutive year, however, the Brand Finance Global 500 report also revealed that brands across apparel will be impacted by the Covid-19 pandemic and stand to lose up to 20 percent of their brand value. The report reveals that the world’s 500...

Apr 16, 2020

Management ANALYSIS

Inditex FY19: Sales and profits up despite coronavirus 287 million euro blow

New York – The world’s largest fashion retailer reported higher net profit and sales for fiscal 2019 on Wednesday, despite seeing sales plunge 24 percent during the first 16 days of March as Inditex SA closed downs thousands of stores temporarily to help mitigate the coronavirus pandemic. Inditex reported net profit of 3.64 billion euros for the...

Mar 18, 2020

Management

Zara-parent Inditex postpones dividend, books 287 million euros inventory provision

Inditex Group’s net sales increased by 8 percent in FY19 to 28.29 billion euros (31.14 billion dollars), underpinned by growth across all of its brands and in all of the geographies in which it has a presence. However, the company saw its store and online sales in local currencies decrease by 4.9 percent between February 1 and March 16, 2020,...

Mar 18, 2020

Business

Massimo Dutti ends kids collection

Massimo Dutti's parent company Inditex is dropping Massimo Dutti Kids in order to focus more on Zara Kids. Massimo Dutti's upcoming spring/summer collection will be the last to include a kids collection. Stores offering the kids range will see that square footage converted to more space for the men's and women's collections. Employees who worked...

Mar 2, 2020

Business

Amiri sues Zara

American brand Amiri is suing Zara for allegedly copying its Amiri MX2 jeans the former selling them under the name Combination Skinny Biker Jeans. Amiri filed its complaint in federal court in Los Angeles demanding 3 million dollars in compensation from Zara's parent company Inditex. The lawsuit Amiri filed claims that details of the jeans,...

Jan 24, 2020

Business

Inditex boosts its profit by 12 percent, credits omnicanality

Madrid -The Spanish company Inditex, considered one of the world's leading fashion group, has just announced its results for the third quarter of its current fiscal year. This is the period during which the company has continued to increase its sales, accumulating to date a growth of 7.5 percent during the first nine months of its 2019 fiscal...

Dec 11, 2019

Management

Inditex posts strong first half, revenues cross 12 billion euros

Inditex Group net sales increased by 7 percent in the first half of 2019 to 12.82 billion euros (14.15 billion dollars) for the first time. In local currencies, the company said, sales growth was 7 percent, while like-for-like sales grew by 5 percent, underpinned by growth across all brands and regions, stores and online. The company added that...

Sep 11, 2019

Fashion

Zara accused of coalition with Hong Kong demonstrators

While the city of Hong Kong hopes to celebrate with optimism the next edition of the Centrestage fashion event, the riots hanging over the region for 13 weeks have placed the Spanish Zara in the center of all eyes. After the harsh protests of this weekend and the day of student strikes last Monday. It all began after the Hong Kong newspaper Ming...

Sep 3, 2019

Video

Video: Kids Campaign Autumn Winter 2019 for Zara

Zara launches its kids campaign for AW19/20. Source: Zara, YouTube.

Aug 6, 2019

Retail

Zara's Indian partner to launch fast fashion at half the price

The Tata Group has operated Zara stores in India as a partner of Zara's parent company, Inditex, for nearly a decade. The Indian multinational conglomerate operates a large portfolio of brands across lifestyle, technology, finance and food, and is now reportedly building its own apparel empire that will offer clothing at half the price of Zara's...

Jun 24, 2019