Inditex

Industria de Diseño Textil, S.A.
Sociedad Anónima
Traded as BMAD: ITX
ISIN ES0148396007
Industry Retailing
Predecessor
  • Confecciones GOA, S.A.
  • GOASAM, S.A.
Founded Arteixo, Spain (June 12, 1985)
Founder Amancio Ortega
Rosalía Mera
Headquarters Arteixo, Spain
Number of locations
 6683 stores (January 31, 2015)
Area served
 Global
Key people
 Pablo Isla (Chairman and CEO)
Ignacio Fernández (CFO)
Products Apparel/footwear specialty, other specialty
Revenue €16.72 billion (2013)[1]
€3.070 billion (2013)[1]
Profit €2.381 billion (2013)[1]
Total assets €13.756 billion (2013)[1]
Total equity €9.278 billion (2013)[1]
Number of employees
 128,313 (2013)[1]
Subsidiaries Zara, Pull & Bear, Bershka, Massimo Dutti, Stradivarius, Oysho, Zara Home, Uterqüe, Tempe
Website www.inditex.com

Industria de Diseño Textil, S.A. (Inditex) (/ˌɪndɪˈtɛks/, Spanish: [indiˈteks]; Textile Design Industries) is a Spanish multinational clothing company headquartered in Arteixo, Galicia. It is made up of almost a hundred companies dealing in activities related to textile design, production and distribution. Amancio Ortega, Spain's richest man, and the world's fourth richest man, is the founder and current largest shareholder. The current chairman of Inditex is Pablo Isla.

Inditex, the biggest fashion group in the world, operates over 6,600 stores worldwide[2] and owns brands like Massimo Dutti, Bershka, Oysho, Pull and Bear, Stradivarius, Zara, Tempe, and Uterqüe, and also a low-cost brand Lefties. The majority of its stores are corporate-owned; Franchises are only conceded in countries where corporate properties can not be foreign-owned (in some Middle Eastern countries, for example).

The group designs and manufactures almost everything by itself, and new designs are dispatched twice a week to Zara stores.

Most manufacturing is now in low labour cost countries, mainly in Morocco, China, and Turkey, although much production continues in Spain and Portugal, particularly for its Zara brand. In addition, Inditex has a factory for shoe design, production and distribution in the town of Elche, on the Spanish Mediterranean coast.

History

The company started by introducing a new concept of fashion design: instead of long-lasting pieces of clothing, they offered a great variety at affordable prices. In the beginning, Zara became famous by offering clothing at low prices and then slowly worked its way up to match the quality of today's best brands.

The group started its activity in 1963 as a dress maker, but it wasn't until 1975 that Zara shop opened its doors in A Coruña (Galicia, Spain), the city which saw the group's early beginnings and which is now home to its central offices.

The international expansion of the group began in 1988, with Inditex opening its first foreign store in Oporto, Portugal. Today, Inditex's stores can be seen in places like New York's Fifth Avenue, Milan's Piazza Duomo, London's Regent Street and Oxford Street, Frankfurt's Zeil, Shanghai's Nanjing West Road, Tokyo's Shibuya, Istanbul's Nişantaşı, Seoul's Myeong-dong, and Vienna's Kärntner Straße.

In the 1990s, Inditex began creating or acquiring subsidiaries to manage different collections: Bershka, Pull and Bear, Massimo Dutti, and Stradivarius.

In May 2001, Inditex turned into a publicly traded company, being valued at US$8 billion (€9 billion at the time).[3]

Inditex won the 2006 Wharton Infosys Business Transformation Award for their innovative and successful implementation of information technology to drastically decrease the time it takes to get new merchandise from the design stage to the in-store stage.

In 2008, Inditex launched Uterqüe, the new accessories brand of the company. Three inaugural flagship stores were opened in Madrid (Calle Serrano), Barcelona (Passeig de Gràcia) and A Coruña.

On 22 September 2008, Inditex opened its 4,000th store in the Ginza in Tokyo, considered one of the most important shopping areas in the world.

In 2010, Zara had sales of €12.5 billion, with only twice a year newspaper advertisements.[4]

On 20 April 2011, the first Zara store opened in Australia. Thus, the Inditex group was present for the first time on five continents, and in 86 countries.

After the 2013 Savar building collapse, Inditex was one of the thirty-eight companies who signed the Accord on Factory and Building Safety in Bangladesh.

In 2015 Inditex bought commercial properties in Soho, New York City for over $280 million. They plan to open Zara and other stores on Broadway.[5]

Subsidiaries

Inditex Global Presence
Company No. of shops (31/01/2015)[6] Year of creation
Zara 2085 1975
Bershka 1006 1998
Stradivarius 910 1999 (acquired)
Pull and Bear 898 1991
Massimo Dutti 706 1995 (acquired)
Oysho 575 2001
Zara Home 437 2003
Uterqüe 66 2008
TOTAL 6683

Corporate affairs

Headquarters

Inditex headquarters are located in Sabón industrial park in Arteixo, a small industrial town in the A Coruña metropolitan area.

Shareholding

The majority shareholders of Inditex are its co-founders - Amancio Ortega and Rosalía Mera; Ortega owns 59% of the company through Gartler, S.L. (50%) and Partler, S.L. (9%) and Mera's heirs own 6% of the company through Rosp Corunna Participaciones Empresariales, S.L..

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Annual Report 2013" (PDF). Inditex. Retrieved 18 December 2014.
  2. ↑ "Grupo INDITEX - Our group". Inditex. Retrieved 2015-02-28.
  3. ↑ Inside Zara Forbes Global
  4. ↑ 4.0 4.1 Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN 978-1-118-17176-9.
  5. ↑ INDITEX BOUGHT SEVERAL COMMERCIAL PROPERTIES IN SOHO, NY, Search4Stores.com. Retrieved: 24 February 2015
  6. ↑ "Presencia internacional". inditex.com. 2015-01-31. Retrieved 2014-12-29.

External links

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