Online push continues at Inditex as Oysho and Pull&Bear launch on Lamoda
today Oct 23, 2018
Spanish retail group Inditex has recently signed a new partnership with online marketplace Lamoda for its Oysho and Pull&Bear brand as part of CEO Pablo Isla’s ambition to make all its brands available online anywhere in the world by 2020.
The e-tailer, part of the Global Fashion Group - an e-commerce fashion site which operates in emerging markets - has added the two Inditex brands to its line-up of over 2,000 fashion names which also includes Adidas, Asics, Gap, Lee, Diesel and Spain’s Mango and Desigual. Founded in 2010, Lamoda sells fashion and beauty products in the Commonwealth of Independent States, including Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan and Uzbekistan.
Oysho and Pull&Bear’s launch on Lamoda comes as the online channel emerges as a key driver of growth for the company owned by Amancio Ortega. Although the business operates its own websites in 48 countries, including the latest launches in Australia and New Zealand, Inditex will have to form partnerships with local e-tailers to meet its goal of selling all its brands online by 2020. As part of this effort, Uterqüe also signed a deal with Tmall in August to secure its distribution in China. And Inditex’s brands are also now available on platforms such as Asos and Zalando.
Inditex ended the first half of the year with sales of 1.4bn euros ($1.6bn), up by 3.1% on the same period last year. Of all brands, Pull&Bear had the fastest growth, increasing by 11.2% to 264m euros in sales, but Zara and Bershka generated the most sales. The young fashion brand’s revenue amounted to 851m euros, while Oysho increased sales by 7% to 290m euros. Both defined by their pursuit to innovation, Pull&Bear has become the first fast fashion brand to introduce a collection dedicated to eSports, particularly to Spain’s Movistar Riders. Meanwhile, Oysho continues to branch into activewear, presenting new collections for boxing and trekking.
Founded in 2014 with the support of Rocket Internet and Swedish investment fund Kinnevik (which owns a minority stake in Zalando), Global Fashion Group collaborates with more than 3,000 international and regional brands. Currently present in 25 countries, the group is composed of Dafiti in South America, Namshi in the Middle East, The Iconic in Australia and New Zealand, and Zalora in Southeast Asia. In 2017, revenue increased by 23.5% to 1.09bn euros.
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