Inditex
 | |
| Company type | Sociedad Anónima |
|---|---|
| BMAD: ITX | |
| Industry | Fashion, retail |
| Founded | Arteixo, Spain (1985) |
| Founder | Amancio Ortega Rosalía Mera |
| Headquarters | Arteixo , Spain |
Key people | Pablo Isla (Chairman and CEO) Ignacio Fernández (CFO) |
| Products | Clothing, accessories |
| Revenue | €12.53 billion (2010)[1] |
| €2.290 billion (2010)[1] | |
| €1.732 billion (2010)[1] | |
| Total assets | €9.826 billion (end 2010)[1] |
| Total equity | €6.423 billion (end 2010)[1] |
Number of employees | 100,140 (end 2010)[1] |
| Subsidiaries | Zara, Pull and Bear, Bershka, Massimo Dutti, Stradivarius, Oysho, Zara Home, Uterqüe, Tempe |
| Website | www |
Industria de Diseño Textil, S.A. ("Textile Design Industries"), more commonly known as Inditex (English: /ˌɪndɪˈtɛks/), Spanish: [indiˈteks]), is a large Spanish corporation and the world's largest fashion group. It is made up of almost a hundred companies dealing with activities related to textile design, production and distribution. Amancio Ortega, Spain's richest man, and the world's 7th richest man, is the founder and current chairman of Inditex.
Inditex runs over more than 5402 stores worldwide[2] and owns brands like Zara, Massimo Dutti, Bershka, Oysho, Pull and Bear, Stradivarius, Zara Home, Tempe and Uterqüe, and also a low cost brand Lefties. The majority of 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.
Inditex headquarters are located in Arteixo, a small industrial town in the metropolitan area of A Coruña, Galicia, in northwestern Spain. Originally almost all merchandise was manufactured there. Now most production has shifted to low-cost labor countries such as Morocco and China. In addition they have another factory mainly responsible for shoe design, production and distribution in Elche, a well-known town of the Alicante province on the Spanish Mediterranean coast.
History
The first Zara shop opened its doors in 1975 in A Coruña (Galicia, Spain), the city which saw the group's early beginnings and which is now home to its central offices. Today Inditex's stores can be seen in places like New York's Fifth Avenue, Milan's Corso Vittorio Emanuele II, 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, Sydney's Pitt Street Mall and Singapore's Orchard Road
In the 90s, 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 $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 (Serrano Street), 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.
On April 20, 2011 opened the first Zara flagship in Australia. Thus, the Inditex group was present for the first time in 5 continents, and in 78 countries. Today Inditex is the biggest fashion group in the world.
Subsidiaries
- Zara - This is the flagship chain. 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.
- Kiddy's Class - Also named 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 - Offers lingerie and women's underwear (but also includes pyjamas, accessories, bathing suits in the summer and more) and includes collections for little girls and babies.
- Zara Home - This chain offers interiors, utensils for household furnishings, accessories, kitchenware and Zara Home Kids (for children).
- Uterqüe - This is the latest addition to Inditex. It offers accessories such as shoes, handbags, jewellery and sunglasses. The intention is to present a sober image, inspired by the English clubs, but at the same time a clear and modern ambient. More costly than the group's other brands, except Massimo Dutti, it still aims to be price competitive with the big brands in the market.
- Tempe - Tempe is Inditex Group's footwear company. From its International Centre in Alicante, Tempe designs and distributes the footwear that accompanies the fashions of all its brands.
| Company | No. of shops (January 2011)[1] | Year of creation |
|---|---|---|
| Zara | 1,518 | 1975 |
| Zara Kids - Kiddy´s Class | 205 | 2001 |
| Bershka | 720 | 1998 |
| Pull and Bear | 682 | 1991 |
| Massimo Dutti | 530 | 1995 (acquired) |
| Stradivarius | 593 | 1999 (acquired) |
| Oysho | 432 | 2001 |
| Zara Home | 284 | 2003 |
| Uterqüe | 80 | 2008 |
| Tempe | 2 | 2011 |
| TOTAL | 5,046 |
See also
References
- ^ a b c d e f g "Annual Report 2010" (PDF) (in Spanish). Inditex. Retrieved 25 April 2011.
- ^ "Grupo INDITEX - Nuestro Grupo". Inditex. 10 November 2008. Retrieved 10 November 2008.
- ^ Inside Zara Forbes Global
External links
- Official website
- Inditex Hoover's Factsheet
- Inditex company profile — Google Finance
- Inditex companies grouped at OpenCorporates
