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Inditex to launch online apparel store in China
Jul '12
Inditex, which owns Spanish fast fashion brand Zara, has unveiled its plans to set up an Internet apparel outlet in China in September this year.
Till date, Inditex has launched more than 5,600 Zara and Massimo Dutti outlets across 84 countries and regions across the globe.
Besides Zara and Massimo Dutti, Inditex also owns other brands like Bershka, Stradivarius and Pull&Bear.
In its March 2012 report, the company stated that it plans to launch 480 to 520 new outlets this year, and this includes launch of a new Massimo Dutti outlet in the US. Besides, it even intends to start online sale of its Zara brand apparel in China from September onwards, the report stated.
Inditex’s financial report for February to March 2012 stated that backed by expansion in Asian countries and growth in emerging nations, the company made € 3.41 billion in revenues during the period, which is a year-on-year rise of 15 percent. The company’s profits for the period stood at € 432 million.
Inditex, one of the leading apparel retailer groups of Europe, made € 1.93 billion in net profits during last fiscal year that ended on January 31, 2012. Rising at a year-on-year rate of 10 percent, its sales for the period grew to € 13.79 billion.

Fibre2fashion News Desk - India

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