Inditex continued to go from strength to strength in the latest quarter and first nine months of its financial year as its omnichannel strategy and focus on stores in the best locations paid off for all brands.
Inditex’s Zara has seen its UK profits falling even though sales there have continued to rise. Full-year 2018/19 sales rose around 10% to £772.5m, but profits were halved as selling and distribution costs rose 7%.
Zara continues to be the group’s largest brand, while Stradivarius and Uterqüe are the fastest-growing formats. FashionNetwork.com takes an in depth look at brand performance and Inditex’s long-term vision.
Eguirón, who has been serving as managing director of Zara in Belgium and Luxembourg for the past four years, replaces Beltrán Espinosa de los Monteros in the role of chief financial officer of Stradivarius.
El Corte Ingles is now the largest online retailer in Spain after Amazon and Alibaba. The Spanish retailer will open an official flagship store on Tmall, the e-commerce platform run by Alibaba, by the end of the year.