Inditex reported revenues up 9 per cent in currency-adjusted terms in the six weeks to Dec. 9, which includes key Black Friday sales, slower sales growth than the 14 per cent reported a year ago
Apparel retailers, and exporters in general, have increased their use of air freight since insecurity in the Red Sea disrupted global shipping routes
Several companies shut their doors in Ukraine as well as Russia two years ago but many of them are now returning
The company will carry out the layoffs for unspecified organizational, productive and economic reasons, unions CCOO and UGT said in a joint statement
The Spanish fashion brand Zara has pulled advertising images that to some appeared to reference Israel's war against Hamas in Gaza. The images for a line of jackets included what the company called unfinished sculptures in a sculptor's studio. But some online critics said one image of a model holding a wrapped-up mannequin resembled someone holding a corpse. Other photos included a mannequin with missing limbs and a figure wrapped in fabric or plastic on the floor, according to news reports. The company apologised in a statement posted on Instagram on Tuesday and said the campaign was conceived in July and photographed in September. Hamas attacked Israeli civilians on October 7, prompting Israel's subsequent invasion of Gaza. Zara said the campaign was created with the sole purpose of showcasing craftmade garments in an artistic context. While acknowledging the offence critics took to the images, the company said these people saw in them something far from what was intended when t
Bangladesh's garment workers earn $95 a month as minimum wage and are demanding a minimum wage of $208 a month
Tempe Grupo Inditex (Zara), a Spain-based textile major, is expected to start production in West Bengal before Christmas, Chief Minister Mamata Banerjee said. The state government would provide 100 acres of concessional land, besides all other support to the company, Banerjee, who is currently in Spain, said. An exciting development is on the horizon! Tempe Grupo Inditex (Zara), a major player in the textile industry, is expanding its operations. They are partnering with private entities to shift manufacturing to West Bengal, with production set to begin before Christmas 2023, Banerjee posted on X on Thursday. The Bengal CM, who is on a 12-day official tour to Spain, held a meeting with the company officials in this regard. Banerjee is hopeful that the venture would help in growth, sustainability, and a prosperous future for West Bengal. During the Bengal Global Business Summit in 2019, a segment titled 'Downstream Polymer and Plastic Industry,' was conceived aligning with our ...
Other brands continuing to source from Myanmar have also ramped up monitoring of suppliers through field offices enabling them to conduct their own inspections instead of relying on external audits
Global fashion brand Zara, has posted a growth of 40.42 per cent in its India revenue at Rs 2,562.50 crore for FY23, according to the latest annual report of Trent Ltd. Its profit was also up 77.66 per cent to Rs 264.30 crore for the financial year ended on March 31, 2023. Inditex Trent Retail India Private Ltd (ITRIPL), a JV which is engaged in the operation of Zara stores in India, in FY22 reported a total income of Rs 1,824.82 crore and a profit of Rs 148.69 crore. "The incremental store openings for Zara continue to be calibrated with focus on presence only in very high-quality retail spaces," it said. ITRIPL is a 51:49 JV between Spain's Inditex, which owns luxury fashion brand Zara and Tata group's retail arm Trent Ltd. Zara, which competes with the likes of other foreign brands such as H&M and UNIQLO in India, operates 20 stores across 11 cities. However, in FY22 the entity was operating 21 stores. Inditex group of Spain has another similar 51:49 JV association with Trent
Mango began to increase its presence in India and opened a flagship store in New York in May, one of nine new shops opened in the United States last year and of 119 outlets in all its markets
Zara owner Inditex has reached an agreement to sell its Russian business to a Lebanese retail and real estate conglomerate, the Spanish fashion giant said on Tuesday in a statement to the country's competition authorities. The buyer is Daher Group and the potential purchase is pending approval from Russian authorities, Inditex said, without disclosing financial details. Inditex halted its business in Russia on March 5, shortly after Russian President Vladimir Putin ordered the invasion of Ukraine at the end of February. Following other western brands, the fashion retailer closed its 502 shops and stopped online sales. Tuesday's announcement marks the end of Inditex's business in Russia, although the retailer said it would consider returning through a franchise collaboration with Daher if market circumstances changed. The statement to CNMC, the commission that oversees competition in Spain, made no direct reference to the war in Ukraine. The sale agreement includes the transfer of
Zara is moving into the business of pre-owned clothing as the Spanish brand starts offering services for repair, resale and donations in the UK
The company plans to ramp up the store presence across key markets over the coming months
In FY21, Inditex Trent Retail India Private Ltd (ITRIPL), a JV which is engaged in the operation of Zara stores in India, had reported a net loss of Rs 41 crore and its revenue fell 28.3 per cent
Operating income rose 82% in the three months through April, exceeding pre-pandemic levels, the company said Wednesday
The 38-year-old will also remain involved in managing fashion merchandise at Zara, the business that generates 70% of Inditex's revenues
H&M earlier this month temporarily closed its stores in Russia, which last quarter accounted for 4% of group sales
H&M said sales in local currencies matched pre-pandemic levels from September through November
The daughter of the founder of Spanish clothing company Inditex, which owns Zara, Massimo Dutti and other fashion chains, has been named as the company's next chairperson, the company said Tuesday.
Spain's Inditex, which owns luxury fashion brand Zara, posted a loss of Rs 41 crore in India for the financial year ended March 31, 2021.