Inditex: Difference between revisions
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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]]. |
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]]. |
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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.<ref>[http://www.search4stores.com/blog/general/inditex-bought-several-commercial-properties-in-soho-ny INDITEX BOUGHT SEVERAL COMMERCIAL PROPERTIES IN SOHO, NY], Search4Stores.com. Retrieved: 24 February 2015</ref> |
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==Subsidiaries== |
==Subsidiaries== |
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Revision as of 21:11, 24 February 2015
 | |
| Company type | Sociedad Anónima |
|---|---|
| BMAD: ITX | |
| ISIN | ES0148396015 |
| Industry | Retailing |
| Predecessor |
|
| Founded | Arteixo, Spain (June 12, 1985) |
| Founder | Amancio Ortega Rosalía Mera |
| Headquarters | Arteixo , Spain |
Number of locations | 6570 stores (December 29, 2014) |
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] | |
| €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 and Bear, Bershka, Massimo Dutti, Stradivarius, Oysho, Zara Home, Uterqüe, Tempe |
| Website | www |
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 third 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 6,200 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
 | This section possibly contains original research. (July 2014) |
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.[citation needed]
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.[citation needed]
In 2010, Zara had sales of €12.5 billion, with only twice a year newspaper advertisements.[4]
On 20 April 2011, the first Zara flagship 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
- Zara - Flagship store.[4] It encompasses many different styles, from daily clothes, more informal, to the more serious or formal, through dresses and suits for festival events. Fashion for women, men and children.
- Zara Kids - Kids Clothing from 0 to 14 years old.
- Pull and Bear - This brand focuses on casual, laid-back clothing and accessories for young people with a very urban style, at accessible prices.
- Bershka - Starting in 1998, this store began distributing fashion for girls, and, more recently, for boys too. It also has a youthful style, although not as urban as Pull & Bear.
- Massimo Dutti - The highlights of this chain are more elegant, classic, and studied designs, for daily and formal clothes. It is more expensive than the rest of stores of the group. It offers fashion for women, men and, recently, for children.
- Stradivarius – This brand has an innovative concept in fashion,[citation needed] targeting young women with clothing garments and accessories.
- Oysho - Women's homewear and undergarments.
- Zara Home - Domestic merchandise
- Uterqüe - Accessories and garments
- Tempe - Footwear
| Company | No. of shops (29/12/2014)[6] | Year of creation |
|---|---|---|
| Zara | 2057 | 1975 |
| Bershka | 992 | 1998 |
| Stradivarius | 893 | 1999 (acquired) |
| Pull and Bear | 885 | 1991 |
| Massimo Dutti | 695 | 1995 (acquired) |
| Oysho | 561 | 2001 |
| Zara Home | 420 | 2003 |
| Uterqüe | 67 | 2008 |
| TOTAL | 6570 |
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
- ^ a b c d e f g "Annual Report 2013" (pdf). Inditex. Retrieved 18 December 2014.[dead link]
- ^ "Grupo INDITEX - Nuestro Grupo". Inditex. 10 November 2008. Retrieved 10 November 2008.[dead link]
- ^ Inside Zara Forbes Global
- ^ a b Chevalier, Michel (2012). Luxury Brand Management. Singapore: John Wiley & Sons. ISBN 978-1-118-17176-9.
- ^ INDITEX BOUGHT SEVERAL COMMERCIAL PROPERTIES IN SOHO, NY, Search4Stores.com. Retrieved: 24 February 2015
- ^ "Presencia internacional". inditex.com. 29 December 2014. Retrieved 29 December 2014.
External links
- Official
- Financial
- Industria de Diseño Textil, S.A. — Bolsa de Madrid
- Industria de Diseño Textil, S.A. — Comisión Nacional del Mercado de Valores
- Industria de Diseño Textil, S.A. — Google Finance
- Industria de Diseño Textil, S.A. — Hoover's
- Inditex companies grouped at OpenCorporates
- Articles
- Zara's Big Idea: What the World's Top Fashion Retailer Tells Us About Innovation, Derek Thompson, The Atlantic, 13 November 2012.
- How Zara Grew Into the World’s Largest Fashion Retailer, Suzy Hansen, New York Times, 9 November 2012.
