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Zara owner Inditex enjoys 11% boost in sales

Published 21/09/2016

Inditex flagged the launch of Zara in Vietnam in the third quarter, meaning it now has a presence in 92 countries
Inditex flagged the launch of Zara in Vietnam in the third quarter, meaning it now has a presence in 92 countries

Inditex, the owner of Zara, has seen sales rise 11% in the first half of the year as the company remained firmly in fashion with shoppers.

The Spanish retailer notched up sales of 10.47 billion euros (£8.9 billion) during the period, resulting in an 8% rise in net profits to 1.26 billion euros (£1 billion).

Chairman and chief executive Pablo Isla hailed the firm's integrated business model: "Both our online and bricks-and-mortar stores are seamlessly connected, driven by platforms such as mobile payment, and other technological initiatives that we will continue to develop."

Inditex, the world's biggest clothing retailer and also the owner of Massimo Dutti and Bershka, opened 83 new stores during the period, taking its total to 7,096.

The retailer also flagged the launch of Zara in Vietnam in the third quarter, meaning it now has a presence in 92 countries.

Inditex added that, over the past 12 months, it has created almost 10,000 new jobs, of which 2,421 were in Spain.

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From Belfast Telegraph