Inditex

In the early 1960s Amancio Ortega started his own business in the clothing industry while working for a local shirtmaker in A Coruña, Spain.{{Cite news|url=https://www.businessoffashion.com/community/people/amancio-ortega-gaona|title=Amancio Ortega Gaona is One of the 500 People Shaping the Global Fashion Industry in 2018|work=The Business of Fashion|access-date=2018-08-17|language=en-GB}} Ortega began developing his designs and he and his wife Rosalia Mera started making clothes in their home.{{cite magazine|url=https://www.bloomberg.com/news/articles/2013-08-16/rosalia-mera-retailer-who-was-spain-s-richest-woman-dies-at-69|title=Rosalia Mera, Who Was Spain's Richest Woman, Dies at 69|magazine=Bloomberg Business|date=15 August 2013|first=Manuel |last=Baigorri|access-date=20 April 2016}} Amancio had saved up enough money to open a small factory and sold garments to his former employer, among others.

In 1975, the couple opened their first store, Zara, which produced popular fashion at low prices. The following year, Zara was incorporated and began opening more stores and factories in Spain. Later that year, after noticing the growing importance of computers, Ortega hired a local professor, José María Castellano, to develop the company's computing power.{{cite web |url=http://www.ft.com/intl/cms/s/2/a7008958-f2f3-11e3-a3f8-00144feabdc0.html#slide0 |archive-url=https://ghostarchive.org/archive/20221210191208/https://www.ft.com/content/a7008958-f2f3-11e3-a3f8-00144feabdc0#slide0 |archive-date=10 December 2022 |url-access=subscription |url-status=live |title=Fashion:A Better Business Model |work=Financial Times |first=Tobias |last=Buck |date=18 June 2014 |access-date=20 April 2016 }}

In the 1980s, the company implemented a new design and distribution method that drastically reduced the time between design, production, and arrival at retail sites.{{cite book|title=The Last Retail Evolution|first=Tolga|last=Ozkurt|publisher=Editrice Le Fonti|isbn=978-88-6109-075-0|url=https://books.google.com/books?id=cZreKquj8iQC|pages=47–49|year=2010}}{{Dead link|date=June 2024 |bot=InternetArchiveBot |fix-attempted=yes }} The system was designed by Castellano, who became the company's CEO in 1984. In 1985, Industria de Diseño Textil S.A. or Inditex was created as a holding company for Zara and its manufacturing plants.{{cite magazine|url=https://www.nytimes.com/2012/11/11/magazine/how-zara-grew-into-the-worlds-largest-fashion-retailer.html?_r=0|title=How Zara Grew Into the World's Largest Fashion Retailer|magazine=New York Times Magazine |date= 9 November 2012|first=Suzy |last=Hansen |access-date=8 April 2016}} In 1988, the company began expanding internationally with the opening of a Zara store in Porto, Portugal.{{cite news|url=http://news.bbc.co.uk/2/hi/business/1346473.stm|title=Spain's Retail Success Story|work=BBC News |first=Orla |last=Ryan |date=23 May 2001 |access-date=8 April 2016}} In 1990, the company-owned footwear collection, Tempe, populated in the children's section of Zara stores.{{cite web|url=https://www.tempe.es/en/trayectoria-tempe|title=Company History|publisher=Tempe Groupo Inditex|access-date=8 April 2016|archive-date=9 April 2016|archive-url=https://web.archive.org/web/20160409154531/http://www.tempe.es/en/trayectoria-tempe|url-status=dead}} In 1991, Inditex created the company Pull and Bear, a casual menswear company.{{cite web|url=http://www.pullandbear.com/mk/en/company-c57003.html?subsectionId=company_01_01|title=Company History|publisher=Pull and Bear|access-date=8 April 2016}}{{cite web|url=https://www.fashionunited.co.uk/news/columns/pull-and-bear-first-uk-store-200806095691|title=Pull and Bear First UK Store|publisher=Fashion United|access-date=8 April 2016}} Later that year, the company also acquired a 65 percent share in the upscale Massimo Dutti brand. Inditex created Lefties in 1993; the name is taken from the term leftovers, and it was created to sell old Zara clothing.{{cite news|url=http://fashion.telegraph.co.uk/columns/bibby-sowray/TMG10707831/Lefties-the-Zara-outlet-you-never-knew-about.html|archive-url=https://web.archive.org/web/20150628161242/http://fashion.telegraph.co.uk/columns/bibby-sowray/TMG10707831/Lefties-the-Zara-outlet-you-never-knew-about.html|archive-date=2015-06-28|title=Lefties:The Zara Outlet You Never Knew About|newspaper=The Telegraph|date=19 March 2014|first=Bibby |last=Sowray|access-date=4 November 2015}} In 1995, Inditex purchased the remaining Massimo Dutti shares and began expanding the brand to include a women's line.{{cite web|url=https://www.inditex.com/documents/10279/18789/Grupo_INDITEX_evo_eng98.pdf/21dee54f-e098-4065-bc51-2544321a558d|title=Annual Report Massimo Dutti|publisher=Inditex|date=1998|access-date=8 April 2016}} In 1998, Inditex launched the Bershka brand that was aimed at urban hip fashion.{{cite web|url=https://www.inditex.com/brands/bershka|title=Bershka About|publisher=Inditex|access-date=8 April 2016}} The company bought Stradivarius in 1999, a youthful female fashion brand.{{cite web|url=http://www.fundinguniverse.com/company-histories/industria-de-dise%C3%B1o-textil-s-a-history/|title=Industria de Diseno Textil S.A. History |publisher=Funding Universe|access-date=8 April 2016}}

Inditex had its initial public offering (IPO) in 2001, on the Bolsa de Madrid.{{cite news|url=https://www.wsj.com/articles/SB988496129402059841|title=Inditex Sets IPO Price Range Amid Strong Market Demand|newspaper=The Wall Street Journal |first1=Carlta |last1=Vitzthum |first2=Silvia |last2=Ascarelli |date=29 April 2015| access-date=8 April 2016}} The IPO sold 26 percent of the company to public investors, the company was valued at €9 billion.{{cite magazine|url=https://www.forbes.com/global/2001/0528/024.html|title=Inside Zara|magazine=Forbes|first=Richard|last=Heller|date=28 May 2001|access-date=8 April 2016}} The same year, the company launched the lingerie and women's clothing store Oysho.{{cite web|url=https://fashionbi.com/brands/oysho/info|title=About Oysho|publisher=FashionBi|access-date=8 April 2016|archive-date=29 September 2018|archive-url=https://web.archive.org/web/20180929114717/https://fashionbi.com/brands/oysho/info|url-status=dead}}{{cite magazine|url=https://www.forbes.com/sites/walterloeb/2015/03/30/zara-leads-in-fast-fashion/2/|title=Zara Leads in Fast Fashion|magazine=Forbes|first=Walter|last=Loeb|date=30 March 2015|access-date=8 April 2016}}

In 2003, Inditex launched the Zara Home brand, which offers bedding, cutlery, glassware and other home decoration accessories.{{cite journal|url=http://www.thefreelibrary.com/SPANISH+CLOTHING+MANUFACTURER+INDITEX+ENTERS+NEW+TERRITORY+WITH+ZARA...-a0103811233|journal=HFN the Weekly Newspaper |publisher= Home Furnishing Network|title=Spanish Clothing Manufacturer Inditex Enters New Territory With Zara Home|date=16 June 2003|first=Barbara |last=Barker|access-date=8 April 2016}} In 2004, with the opening of store number 2,000 in Hong Kong, Inditex had established its presence in 56 countries.{{cite news|url=http://elpais.com/m/elpais/2012/08/14/inenglish/1344945273_865076.html|title=The Man Who Dresses the World|newspaper=El Pais|first=Luis|last=Gomez|date=14 August 2012|access-date=8 April 2016}}

In 2005, CEO Jose Maria Castellano stepped down from the position to oversee expansion plans, he was replaced by Pablo Isla.{{cite web|url=http://www.ft.com/intl/cms/s/0/8db00f16-2e29-11da-aa88-00000e2511c8.html#axzz3qSElNPN4|archive-url=https://ghostarchive.org/archive/20221210191222/https://www.ft.com/content/8db00f16-2e29-11da-aa88-00000e2511c8#axzz3qSElNPN4|archive-date=10 December 2022|url-access=subscription|title=Castellano Steps Down From Inditex|work=Financial Times|first=Leslie|last=Crawford|date=26 September 2005|access-date=8 April 2016|url-status=live}} Inditex launched Uterque in the summer of 2008, the brand specializes in women's accessories.{{cite journal|url=http://www.thefreelibrary.com/H%26M+and+Inditex's+global+expansion+strategies.-a0213856442|title=Retail in Practice:H&M and Inditex's Global Expansion Strategies|publisher=European Supermarket Magazine |journal=The Retail Digest |date=22 September 2008|first=Raphael |last=Moreau}} During the same year, the company opened its 4,000th store in Tokyo after doubling in size within four years. In 2011, Ortega, the founder of the business and majority shareholder, stepped down as deputy chairman and CEO Isla handles day-to-day operations. Later that year, the company opened a store in Australia, a move that would put the company on five continents and in 77 countries.{{cite news|url=http://theconversation.com/zaras-australian-entrance-to-challenge-local-retailers-272|title=Zara's Australian Entrance to Challenge Local Retailers|work=The Conversation|first=Lisa |last=Tartaglia |date=18 April 2011|access-date=8 April 2016}} After the 2013 Savar building collapse, Inditex was one of the thirty-eight companies who signed the Accord on Factory and Building Safety in Bangladesh.{{cite web|url=https://www.theguardian.com/world/2013/may/13/fashion-chain-finance-safety-bangladesh-factories|title=Fashion Chains Sign Accord to Help Finance Safety in Bangladesh Factories|work=The Guardian|first1=Jason |last1=Burke |first2=Saad |last2=Hammadi |first3=Simon |last3=Neville|date=13 May 2013|access-date=8 April 2016}}

As of 2019, Inditex is the biggest fashion retailer in the world by revenue.{{Cite web|url=https://www.themds.com/companies/fast-retailing-overcomes-hm-as-worlds-second-largest-fashion-retailer.html|title=Fast Retailing overcomes H&M as world's second-largest fashion retailer|website=www.themds.com|language=en-US|access-date=2019-10-16}}

The company's revenue fell by 18% to $1.85 billion in the final quarter of 2020, primarily due to the fall in retail sales as a result of the coronavirus pandemic. Inditex's stocks fell by 12% over the year.{{Cite news|date=2020-12-15|title=Inditex Profit Drops as Consumers Spend Less in Second Lockdowns|language=en|work=Bloomberg.com|url=https://www.bloomberg.com/news/articles/2020-12-15/inditex-profit-drops-as-consumers-spend-less-in-second-lockdowns|access-date=2021-01-04}}

In May 2021, Inditex said that all its stores in Venezuela would close as it will review its agreement with its local partner, Phoenix World Trade.{{Cite web|date=2021-05-22|title=Zara owner Inditex to close all stores in Venezuela, local partner says|url=https://www.reuters.com/business/retail-consumer/zara-owner-inditex-close-all-stores-venezuela-local-partner-says-2021-05-22/|access-date=2021-05-22|website=Reuters}}

In the three months to 30 April 2023, the group reported a 13% increase in sales to £6.54 billion and a 14% rise in profit to £3.96 billion.{{Cite web |last=Wright |first=Georgia |date=2023-06-07 |title=Zara owner Inditex's profits continue to soar as it eyes 'strong growth opportunities' - Retail Gazette |url=https://www.retailgazette.co.uk/blog/2023/06/zara-inditexs-profits-rise/ |access-date=2023-08-23 |website=www.retailgazette.co.uk |language=en-GB}}{{Cite news |last1=Pons |first1=Corina |last2=Reid |first2=Helen |last3=Pons |first3=Corina |last4=Reid |first4=Helen |date=2023-06-07 |title=Zara-owner Inditex enjoys strong start to summer |language=en |work=Reuters |url=https://www.reuters.com/business/retail-consumer/zara-owner-inditexs-quarterly-profit-rises-54-sale-boom-continues-2023-06-07/ |access-date=2023-08-23}}

In 1989, a year after entering Portugal, the company entered the U.S. market{{cite magazine|url=https://www.forbes.com/2009/03/24/foreign-retailer-favorites-lifestyle-style-foreign-retailer.html|title=America's Favorite Foreign Retailers|magazine=Forbes|author=Lauren Sherman |date=24 March 2015 |access-date=14 April 2016}} and expanded into France in 1990. Expansion continued to Mexico in 1992 and Greece in 1993. In 1994, Inditex opened stores in Belgium and Sweden.{{cite web|url=http://knowledge.wharton.upenn.edu/article/fashion-chain-zara-reclaims-the-glory-of-spain/|title=Fashion Chain Zara Reclaims the Glory of Spain|publisher=Wharton University of Pennsylvania|date=24 April 2003|access-date=14 April 2016}} By 1997, the company had expanded to Malta, Cyprus, Norway and Israel. In 1998, expansion continued to the UK, Turkey, Argentina, Venezuela, the Middle East and Japan. Canada, Germany, Poland, Saudi Arabia and several South American countries received stores in 1999.{{cite web|url= http://www.inditex.com/our_group/our_history|title=Inditex: Our History|publisher=Inditex|access-date=14 April 2016}}

The company opened stores in Italy, Luxembourg and Jordan in 2001. In 2003, Inditex opened stores in Russia, Slovakia and Malaysia. The following year Latvia, Hungary, and Panama among other countries where stores opened, including the 2,000th store in Hong Kong. By 2006, the company had expanded into mainland China.{{cite magazine|url=https://www.forbes.com/2010/07/29/forbes-india-zara-business-model-tweak.html|title=Fast Fashion: Zara in India|magazine=Forbes|author=Saumya Roy|date=29 July 2010|access-date=14 April 2016}} In 2010, the company opened their 5,000th location in Rome and its first in India. The first stores in Australia and South Africa opened in 2011. The company's expansion continued to the Serbia, North Macedonia, Armenia, Ecuador, Georgia and Bosnia-Herzegovina in 2012.{{cite web|url= http://www.retail-week.com/topics/international/inditex-to-open-stores-in-bosnia-and-herzegovina/5034017.article|title=Inditex to Open Stores in Bosnia and Herzegovina|publisher=RetailWeek |date=23 February 2012 |access-date=14 April 2016}} In 2014, Inditex opened stores in Albania.{{cite web|url=http://retailnet.eu/2014/04/03/71463-inditex-enters-albanian-market/|title=Inditex Enters the Albanian Market|publisher=Retail Net|author=Lukasz Izakowski |date= 3 April 2014|access-date=14 April 2016}} In 2016, Inditex announced that they planned to open stores in Vietnam, New Zealand, Paraguay, Aruba and Nicaragua.

In 2007, Inditex launched the Zara Home online retail store.{{cite web|url=http://www.retailnews.asia/zara-home-to-launch-its-online-platform-in-australia/|title=Zara Home to Launch its Online Platform in Australia|publisher=Retail News Asia |date=12 July 2015|access-date=14 April 2016}} Zara joined the e-commerce marketplace in September 2010, launching websites in Spain, the UK, Portugal, Italy, Germany and France.{{cite news|url=https://www.reuters.com/article/us-inditex-results-idUSKBN0ME11N20150318|title=Zara-Owner Inditex to Trim Investment After Strong Sales |work=Reuters|author=Sarah Morris |date=18 March 2015 |access-date=14 April 2016}}{{cite web|url=http://fashionista.com/2010/06/zara-will-finally-offer-e-commerce-but-not-for-us-customers|title=Zara Will Finally Offer E-Commerce, But Not to US Customers|publisher=Fashionista |author=Lauren Sherman |date=9 June 2010 |access-date=14 April 2016}} In November 2010, Zara's online presence grew to include Austria, Ireland, the Netherlands, Belgium and Luxembourg.{{cite news|url=https://blogs.wsj.com/source/2010/09/22/zara-tries-a-fast-one-on-the-net/|title=Zara Tries a Fast One on the Net|newspaper= Wall Street Journal|date=22 September 2010|author=Christopher Bjork |access-date=14 April 2016}} In September 2011, Inditex brought Zara's e-commerce platform to the U.S.,{{cite web|url=https://www.internetretailer.com/2011/09/06/zara-launches-e-commerce-operations-us|title=Zara Launches E-Commerce Operations in the U.S.|publisher=Internet Retailer |date=6 September 2011 |author=Allison Enright |access-date=14 April 2016}} as well as adding the brands Pull and Bear, Massimo Dutti, Bershka, Stadivarius, Oysho and Uterqüe to the e-commerce space.{{cite web|url= http://us.fashionmag.com/news/Inditex-repatriates-its-e-commerce-services,202121.html#.VsNIffkrKUk|title=Inditex Repartriates its E-commerce Services|publisher=Fashion Mag|date=18 September 2011 |author=Olivier Guyot |access-date=14 April 2016}} As of February 2016, Inditex operates e-commerce sites in 28 markets and plans to add 12 more by April.{{cite web|url=https://www.bbc.com/news/business-31939274|title=Zara Owner Inditex Profits up 5%|publisher=BBC|date= 18 March 2015 |access-date=17 June 2016}}{{cite web |url=http://us.fashionmag.com/news/Inditex-to-consolidate-its-e-commerce-business-in-2016,607247.html#.VsNLsPkrKUk |archive-url=https://web.archive.org/web/20160423060946/http://us.fashionmag.com/news/Inditex-to-consolidate-its-e-commerce-business-in-2016,607247.html#.VsNLsPkrKUk |url-status=dead |archive-date=23 April 2016 |title=Inditex to Consolidate Its E-commerce Business in 2016 |publisher=Fashion Mag |first=Triana |last=Alonso |date=14 December 2015 |access-date=17 June 2016 }}{{cite web|url=http://www.inditex.com/en/media/news_article?articleId=195459|title=Inditex Launches New Online Stores in Denmark, Ireland, Italy, Luxembourg, Poland, Romania and Sweden Today|publisher=Inditex |date=4 February 2016|access-date=17 June 2016}} In September 2018, Inditex announced to sell all its brands online by 2020, even in places where it does not own any stores.{{Cite news|url=https://www.reuters.com/article/us-inditex-technology-internet/zara-owner-inditex-to-sell-all-its-brands-online-by-2020-idUSKCN1LK2A0|title=Zara owner Inditex to sell all its brands online by 2020|author=((Reuters Editorial))|work=U.S.|access-date=2018-09-05|language=en-US}}{{Cite news|url=https://www.cnbc.com/2018/09/04/zara-owner-inditex-to-sell-all-its-brands-online-by-2020.html|title=Zara owner Inditex to sell all its brands online by 2020|last=CNBC|date=2018-09-04|work=CNBC|access-date=2018-09-05|archive-date=5 September 2018|archive-url=https://web.archive.org/web/20180905105733/https://www.cnbc.com/2018/09/04/zara-owner-inditex-to-sell-all-its-brands-online-by-2020.html|url-status=dead}}

Inditex avoids magazine advertising, with print campaigns only occurring on billboards in certain regions like U.S. and in-store. Endorsements for celebrities to wear its labels are budgeted instead. The company invests in commercial locations and uses window displays to increase visibility and product turnover.{{Citation needed|date=October 2023}}

Zara has been accused of copying artwork.{{Cite web|title=Zara stealing designs copying independent artists|url=https://www.boredpanda.com/zara-stealing-designs-copying-independent-artists-tuesday-bassen/|access-date=2020-06-16|website=Bored Panda|date=25 July 2016 }}

In 2017, Zara Home Belgium was convicted of plagiarism by a Brussels Court,{{Cite web|title=Zara Home co-opts design by Flemish artisan {{!}} Flanders Today|url=http://www.flanderstoday.eu/living/zara-home-co-opts-design-flemish-artisan|url-status=dead|access-date=2020-05-18|website=www.flanderstoday.eu|archive-date=16 June 2020|archive-url=https://web.archive.org/web/20200616103810/http://www.flanderstoday.eu/living/zara-home-co-opts-design-flemish-artisan}}{{Cite web|title=Belgian artisan wins Zara plagiarism court case|url=https://www.thebulletin.be/belgian-artisan-wins-zara-plagiarism-court-case|last=Bradshaw|first=Lisa|date=2017|website=The Bulletin}}{{Cite web|title=Limburgse houtsnijder dwingt Zara op de knieën|url=https://www.hln.be/nieuws/binnenland/limburgse-houtsnijder-dwingt-zara-op-de-knieen~a91e5096/|website=Het Laatste Nieuws|access-date=2020-05-18}}{{Cite web|title=Vlaamse houtsnijder dwingt modeketen Zara op de knieën|url=https://www.nieuwsblad.be/cnt/dmf20170704_02956679|website=Het Nieuwsblad Mobile|date=4 July 2017 |language=nl-BE|access-date=2020-05-18}}Nederlandstalige Rechtbank van Koophandel Brussel [https://freiherrvonquast.files.wordpress.com/2019/08/rechtbank-van-koophandel-brussel-19-juni-2017-iefbe-2368-familiewapen-tegen-zara-home.pdf Read online] which was claimed to have been the first plagiarism conviction of a fast retailer.{{Cite web|title=Limburgse houtsnijder dwingt Zara op de knieën|url=https://www.tijd.be/ondernemen/retail/limburgse-houtsnijder-dwingt-zara-op-de-knieen/9910850.html|website=De Tijd}} "{{lang|nl|Het is een uniek precedent in die zin dat het, wellicht tot ver buiten België, de eerste keer is dat een fast retailer voor iets dergelijks door een rechtbank werd veroordeeld.}}" ("It is a unique precedent in the sense that, perhaps far beyond Belgium, it is the first time that a fast retailer has been convicted of something like this by a court of law.")

Under the Inditex umbrella are several brands that offer a variety of products aimed at different markets.{{Cite web|url=http://www.inditex.com/en/our_group/international_presence|title=International presence - inditex.com|website=www.inditex.com|access-date=2016-07-16|url-status=dead|archive-url=https://web.archive.org/web/20160910035136/http://www.inditex.com/en/our_group/international_presence|archive-date=10 September 2016|df=dmy-all}}

Bold indicates a company shareholder, and the representative will be listed below.

The largest shareholders in early 2024 were:{{Cite web |title=Industria de Diseño Textil, S.A. Insider Trading & Ownership Structure |url=https://simplywall.st/stocks/es/retail/bme-itx/industria-de-diseno-textil-shares/ownership |access-date=2024-04-10 |website=Simply Wall St |language=en}}

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Category:Clothing companies of Spain

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Category:2001 initial public offerings