Besides launching Zara’s online sales platform in India, this August the Group’s brands, including Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Zara Home will open their first stores in Belarus.
Speaking at the company’s Annual General Meeting in Arteixo, Spain, Isla defined Inditex as a company “focused on its people, devoted to creative talent and underpinned by an integrated offline-online store model.” He also highlighted Inditex’s “sustainable growth strategy”, which permeates all the links in its value chain, and the Group’s ability to generate “value for society”.
The commitment to sustainability all along the value chain was strengthened in 2016 with implementation of Inditex’s Closing the Loop initiative, demonstrating its commitment to the concept of the circular economy. In addition, the group launched sustainable clothing collections by both Zara -Join Life- and Oysho -Weare the Change. These initiatives are to be adopted by the other Group brands in 2018.
In 2016, Inditex Group’s points of sale surpassed the 7,200 mark in 93 countries and 41 online markets. Group revenue reached €23.31 billion, underpinned by growth in all the regions in which it does business, while net profit amounted to €3.16 billion. These results paved the way for payment of a dividend of €0.68 per share, marking growth of 13.3 per cent year-on-year and 89 per cent in the last five years.
At the end of the year, Inditex had 162,450 employees representing 99 different nationalities worldwide. A team characterised by “creative talent, self-imposed high standards, the ability to work as a team and a strong customer focus”, in the words of Isla, who went on to stress that “Inditex’s relationship with our people is defined by diversity, equal opportunities and career development”. (RKS)
Fibre2Fashion News Desk – India
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