Inditex, one of the world’s largest fashion retailers, has more
than 7,000 stores in more than 90 markets worldwide and
already operates in 29 online markets. It owns other concepts:
Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho,
Zara Home and Uterqüe.
The Group also encompasses different companies engaged
in a range of activities in the textile and fashion design,
manufacturing and distribution businesses.
Its unique management model, based on innovation and
flexibility, and its vision of fashion (creativity and quality
design, together with a rapid response to market demands)
have enabled its rapid international expansion and excellent
performance at its commercial concepts, boths in its physical
and online stores.
(1) Zara. Hong Kong
(2) Zara. Tokyo. Ginza
(3) Massimo Dutti. Casablanca. Boulevard Al Massira Al Khadra
(4) Zara Home. Barcelona. Paseo de Gracia
INDITEX
The first Zara store opened in 1975 in A Coruña (northwest
Spain), where the Group’s business began and where it is still
headquartered. Today Inditex Group stores can be found in
hundreds of cities on all five continents, always on the busiest
shopping streets.
Inditex has been listed on the Spanish Stock Exchange since
23 May 2001, following an IPO which generated great
interest among investors worldwide, with shares some 26
times oversubscribed. Inditex shares are also quoted on
leading Spanish and international stock indexes.
Inditex has grown dramatically in recent years, achieving
consolidated turnover of €20.9 billion euros in 2015 and
net profit of €2.9 billion euros. As of 31 January 2016, the
Group had 152,0854 employees worldwide.
Zara. New York. Soho The Inditex financial year runs from 1 February to
31 January of the following year
* in millions of euros.
Fiscal year 2015 2014 15/14
Turnover*
Net Profit*
Number of stores
Markets
Employees
20,900
2,875
7,013
88
152,854
18,117
2,501
6,683
88
137,054
15.4%
15%
343
8,741
( 2 ) ( 3 )
( 1 )
( 4 )
The Business ModelThe Inditex business model is characterised by a high degree of
vertical integration. It is involved in all stages of the fashion process:
design, manufacture, logistics and distribution to its own managed
both physical and online stores. It has a flexible structure and a
strong customer-centric focus across all of its business areas.
The key element for the corporation is the physical and online
store, a carefully designed space designed to make customers
comfortable as they experience our collections. It is also where we
obtain useful information for adapting our collections to customers’
tastes.
In this fully integrated model is key the ability to adapt our
merchandise to customer tastes in the shortest time possible. For
Inditex, speed is the No. 1 priority, above and beyond production
costs. Vertical integration enables us to shorten turnaround times
and achieve greater flexibility, keeping merchandise stock and
fashion risk at a minimum.
Zara. London. Park House
Design The success of Inditex’s collections lies in our ability to spot and adapt
to rapidly changing trends in fashion, designing new items constantly to
satisfy customers’ cravings. Inditex uses its flexible business model to adapt
to changes occurring within each season, reacting swiftly to deliver new
product to stores in the shortest time possible.
The merchandise for each season -over 50,000 items last year- are
developed in their entirety by creative teams at each concept. More than
600 designers -300 of them at Zara alone- draw their main inspiration from
both prevailing trends in the fashion industry and customers themselves,
through feedback received from stores.
ManufacturingInditex makes its production gradually and precisely, searching some
specific units, without production perks and always focused on sustainability.
Part of the production is made at the Group´s factories, wich are focused on
the most fashion garments.
Zara. New York. Soho
Zara. Madrid. Gran Via
Logistics All merchandise, irrespective of origin, is delivered to each concept’s
distribution hubs, from whence it is distributed simultaneously to all
stores worldwide on a very frequent and continuous basis. Deliveries
arrive in stores twice weekly and always contain new styles, to ensure
that store collections are constantly refreshed and updated.
In the same way, they distribute to the 10 stock rooms the Company
has dedicated to the online sales in different places around the world.
The logistics system, based on software designed by the company’s
in-house teams, guarantees that the time between when orders are
received at distribution centres and when merchandise is delivered to
stores is on average only 24 hours for European stores and no more
than 48 hours for American and Asian stores.
Retail at company stores
The store both physical and online is not the end of the process, it is
the beginning, representing a vehicle for gathering market information,
sending feedback to design teams and reporting on trends requested
by customers.
Both interior and exterior physical store design are given the highest
priority. Shop windows play a major role, acting as an advertising
vehicle for our concepts in the world’s major shopping streets. On the
other hand, Internet has became a new global window for Inditex. As
for interior design, the intent is to create a well-lit space where the
clothes take pride of place, eliminating all barriers between garments
and customers.
The main development strategy for Inditex concepts entails opening stores
managed by companies in which Inditex is the sole or majority shareholder.
In smaller or culturally different markets, the Group has expanded its
store network through franchise agreements with leading local retail
companies. At the end of 2015, it had 908 franchised stores out of a
total of 7,013 stores.
The most noteworthy feature of the Inditex franchise model from a
business point of view is the seamless integration of the franchised
stores’ management in core areas such as window dressing, product,
training, logistics, etc. This ensures standardised store management
practices and a global image from the viewpoint of customers worldwide.
Arteixo
(A Coruña)
Narón
(A Coruña)
Sallent
(Barcelona)
Tordera
(Barcelona)
Palafolls
(Barcelona)
Zaragoza
Elche
(Alicante)Meco
(Madrid)
León
Cabanillas
(Guadalajara)
Pull&Bear. Marineda City. A Coruña
Corporate Social Responsibility
Inditex views social and environmental variables as a strategic vector
for its management system. Sustainable growth, which customers and
society in general increasingly demand, is a value we at the company
share and apply to our supplier relationships.
This sustainability strategy is managed in the social responsibility sphere
through the Internal Code of Conduct and the Code of Conduct for
External Manufacturers and Suppliers, and in the environmental field it is
defined by the Environmental Strategic Plan. All of Inditex’s actions in the
field of corporate responsibility are audited by external agents in order to
provide greater objectivity.
Transparency is Inditex’s core management priority and facilitates
sincere, open relationships with all of our stakeholder groups. Inditex's
efforts in this area have received international recognition.
All of Inditex’s activities are conducted ethically and responsibly,
grouped around Right to Wear philosophy, including actions in
different areas such as product health and safety, control of the supply
chain and the connection between our actions and the community.
All of Inditex’s products are respectful of the environment and health
and safety. By implementing the strictest international standards,
Inditex assures customers that its products meet stringent health,
safety and ethical standards.
Massimo Dutti. Serrano. Madrid
Inditex believes that it is essential to maintain ethical and stable relationships
with its network of external suppliers worldwide.
To this end, the company enforces its social commitment on all suppliers
through the Code of Conduct for External Manufacturers and Suppliers.
Suppliers must comply with the code before embarking on a business
relationship with Inditex.
To ensure compliance with the code, more than 3,000 independent
external and internal agents regularly audit suppliers. Inditex follows up
with improvement programmes for suppliers and social projects aimed at
promoting education and a better quality of life in the regions in which it
does business.
Oysho. Lisboa
Uterqüe. Plaza de Lugo. A Coruña
In order to segment its approach to different market niches, Inditex operates
eight fashion retail chains. They all share the same commercial and
managerial focus: to be leaders by leveraging a flexible business model and
to build a truly international reach. However, each concept has great leeway
for managing its business; management teams are independent in retail
decision-making and in their ability to administer their resources.
Nonetheless, the fact that they belong to a Group operating in more than
90 markets provides a great number of organisational and knowledge-
management synergies. Each management team can thus concentrate on
developing its business in the knowledge that certain support elements are
covered by the Group’s accumulated experience.
Inditex, as the parent company, is responsible for central corporate services,
i.e. services shared by the eight concepts which facilitate international growth;
administration, the use of logistics technology, general HR policy, legal issues,
and financial capacity, among others.
SalesFormats
ZARA (www.zara.com) opened its first store in the coastal town
of A Coruña in the northwest of Spain in 1975. Zara has over
2,100 stores strategically located in leading cities in more than 88
countries and operates in 27 online markets. Zara’s designers and
customers are inextricably linked. Specialist teams receive constant
feedback on the decisions its customers are making at every Zara
store. This feedback inspires Zara’s creative team which is made up
of over 200 professionals.
PULL&BEAR (www.pullandbear.com) was created in 1991 with one
purpose – to meet the needs of young fashion lovers. Pull&Bear’s collections
have a laid back and fun feel to them.
But Pull&Bear is more than just clothing and accessories, it also creates
spaces in which to communicate its product message. Pull&Bear’s stores
blend creative installations with recycled objects to create a quirky and
comfortable space where its young customers enjoy spending time.
Pull&Bear has over 900 stores on the busiest shopping streets and in the
most important shopping centres across 68 countries and 28 online markets.
Zara is always striving to meet the needs of its customers at the same
time as helping to inform their ideas, trends and tastes. The idea is
to share responsible passion for fashion across a broad spectrum of
people, cultures and ages.
Number of storesTurnover*
Number of storesTurnover*
(*) in million of euros (*) in million of euros
2,16213,628
9361,417
2015 2015
MASSIMO DUTTI (www.massimodutti.com) was incorporated to the
Group in 1991 and epitomises elegant and universal style that connects
with the independent, cosmopolitan men and women of today. Its
collections span from the most sophisticated of looks to more casual
styles.
Massimo Dutti always ensures it uses high quality fabrics that are also
practical and comfortable. Massimo Dutti is present in 69 markets with
a network of more than 700 stores, which are found only in the best
shopping locations and are designed with the customer’s ease and
comfort in mind and operates in 25 online markets.
BERSHKA (www.bershka.com) was set up in 1998 as an innovative
fashion retail concept which targets the youngest hipsters in the market.
There are more than 1,000 Bershka stores in 69 markets and operates in
18 onine markets.
Bershka’s urban hip style characterises its spacious stores to create a
meeting point where customers can find a blend of street fashion, music and
art. Shopping at Bershka means immersion in the very latest fashion trends.
Number of storesTurnover*
Number of storesTurnover*
(*) in million of euros (*) in million of euros
7401,498
1,0441,875
2015 2015
STRADIVARIUS (www.e-stradivarius.com) takes a youthful and
feminine approach to fashion. It introduces new trends designs and
fabrics to its young customers.
Its elegant spacious stores offer a broad range of fashion choices for
casual young women with lots of imagination. Stradivarius’s 950 stores
are present in 60 different countries and operates in 20 online markets.
OYSHO (www.oysho.com) has different product lines such as lingerie,
gymwear , sleepwear , beachwear, accessories and footwear. Oysho’s
collections are carefully selected to offer design and fashion, combined
with garment quality and comfort. Oysho’s customers are independent,
self-confident women who appreciate quality and love dressing in the
latest fashion trends.
Oysho was founded in 2001 and nowadays is present in 44 countries
with over 600 stores worldwide. Its online store www.oysho.com is
available in 32 markets.
Number of storesTurnover*
Number of storesTurnover*
(*) in million of euros (*) in million of euros
9501,289
607452
2015 2015
ZARA HOME (www.zarahome.com) was created in 2003 and specialises
in the latest designs for the home. Its textile ranges, which include bedding
and bed linen, tableware and bath linen, are complemented by dishware,
cutlery, glassware and home decoration objects and accessories. Zara
home is constantly refreshing its product range throughout the year.
Created in 2003, Zara Home has more than 500 stores in 53 markets
and operates in 25 online markets.
UTERQÜE (www.uterque.es) is a sophisticated fashion accessory brand
which boasts excellent quality at attractive prices. Its collections also include
clothing and leather garments and are all designed exclusively by Uterqüe’s
creative team.
Uterqüe was launched in 2008 and has gained strong customer loyalty in
the markets in which it has an established presence. Its 72 stores across
12 markets are elegant and refined in appearance and operates in 13
online markets.
Number of storesTurnover*
Number of storesTurnover*
(*) in million of euros (*) in million of euros
502666
7275
2015 2015
The stores are our venue for meeting customers and are the
Inditex Group's best advertising vehicle. Located in major
cities worldwide, they bring our fashions to the High Street
and represent the true hallmark of the brand, always original
and unique.
Inditex applies the principles of its business philosophy
to store architecture: design, constant innovation, rapid
response time and tailored to the local needs of customers
and the community.
Flagshipstores,a Group trademark
(1)
(2) (3)
Store creation is seen as a constant and open process,
which is key for our business and results from cross-
departmental cooperation. While sharing the same
principles, each store is unique and adapted for different
cultures and environments. Our architectural projects
sometimes involve renovation and preservation of historic
buildings, with detailed renovation projects for unique sites.
(4)
(1) Zara. Fifth Avenue. New York. (2) Zara Home. Milano. (3) Pull&Bear. Shanghai. (4) Zara. Brussels
InternationalExpansionThe first Zara store opened in A Coruña (northwest Spain) in 1975. Over
the following decade Zara continued to open stores throughout Spain.
It debuted in Porto (Portugal) in 1988, and in the next few years,
the first stores opened outside of the Iberian Peninsula, in New
York (1989) and Paris (1990).This began a process culminating in
our current presence in 88 markets worldwide. Its success, among
people, cultures and generations which, despite their differences,
all share a special fondness for fashion, lies in the conviction that
national frontiers are no impediment to sharing a fashion culture.
The usual way of entering a new market is to start with a small number of
stores, which test the waters in each country before attaining a critical mass
of customers. The new concepts added to the Group since 1991 share
the same international approach as Zara -in fact, it is of their fundamental
characteristics. As a result, all brands have expanded simultaneously in
Spain and abroad. In most cases, Zara was the first concept to disembark
in new countries, gaining experience that facilitates the subsequent
rollout of the other concepts. This accumulated experience has also
enabled the accelerated international expansion of the newer concepts.
Sales by geographical area/2015
Europe ex-Spain
Spain
Asia
The Americas
1975 Spain
1988 Portugal
1989 United States
1990 France
1992 Mexico
1993 Greece
1994 Belgium and Sweden
1995 Malta
1996 Cyprus
1997 Norway and Israel
1998 Argentina, United Kingdom, Venezuela, Turkey,
Lebanon, U.A.E, Kuwait and Japan
1999 The Netherlands, Germany, Poland, Saudi
Arabia, Bahrain, Canada, Brazil, Chile and Uruguay
2000 Andorra, Qatar, Austria and Denmark
2001 Puerto Rico, Jordan, Ireland, Iceland,
Luxembourg, Czech Republic and Italy
2002 El Salvador, Finland, Dominican Republic,
Singapore and Switzerland
2003 Russia, Malaysia, Slovenia and Slovakia
2004 China, Morocco, Estonia, Latvia, Lithuania,
Hungary, Romania and Panama
2005 Philippines, Thailand, Monaco, Costa Rica and
Indonesia
2006 Serbia and Tunisia
2007 Guatemala, Croatia, Colombia and Oman
2008 South Korea, Ukraine, Egypt, Honduras and
Montenegro
2009 Syria
2010 Bulgaria, Kazakhstan, India
2011 Australia, Taiwan, Azerbaijan, South Africa and
Peru.
2012 Armenia, Bosnia-Herzegovina, Ecuador, Georgia
and the former Yugoslav Republic of Macedonia
2013 Argelia
2014 Albania
19%
21%
14%
46%
Zara. Kracow
Pablo IslaAmancio Ortega
Pablo Isla Álvarez de Tejera, Chairman and CEO of Inditex since 2011. He
has been the Deputy Chairman and CEO since 2005.
He is a graduate in Law from the Complutense University of Madrid and
Abogado del Estado (State lawyer).
From 1992 to 1996 he was Director of Legal Services for Banco Popular.
He went on to be appointed General Director of State Assests at the Ministry
of Economy and Finances.
From July 2000 to 2005 he was Chairman of Altadis group.
Likewise, he sits on the Board of Directors of Telefónica, S.A.
He was re-elected to the Board of Directors by the AGM held on 13 July
2010 and 14 July 2015.
He holds 1,805,320 shares in the company.
Amancio Ortega Gaona, Founder of Inditex, was born in 1936 in
Busdongo de Arbas, León. He moved to A Coruña with his family at an
early age, where he began his business activities in the textile sector. After
working with two well-known establishments in A Coruña, he launched
his own business venture.
His first project culminated in the creation, in 1963, of Confecciones
GOA, a garment manufacturing company. Following an initial stage of
growth in manufacturing, the first Zara shop opened on an A Coruña city
centre street in 1975. In 1985, Amancio Ortega added Zara to a new
holding company, Industria de Diseño Textil, INDITEX S.A.
The Amancio Ortega Foundation was established in 2001 as a private
non-profit organisation dedicated to sponsoring a variety of activities in
the fields of culture, education, research and science.
Zara Home. Osaka
1963 Amancio Ortega Gaona, chairman and founder of Inditex, launches
his business as a clothing manufacturer. The business grows steadily
over the next decade until it owns a number of textile factories, which sell
their merchandise in several European countries.
1975 Zara is founded with the opening of the first store on A Coruña
(Spain) city centre street.
1976 The Zara fashion concept is well received by the public, allowing it
to expand its network of stores to major Spanish cities.
1985 Inditex founded as the head of the corporate Group.
1986 Group manufacturing companies sell all of their output to Zara
and lay the groundwork for a logistics system capable of addressing
expected rapid growth.
1988 The first Zara store outside Spain opens in December 1988 in
Porto (Portugal).
1989-1990 The Group expands to the United States and France
with the opening of stores in New York (1989) and Paris (1990).
1991 Launch of Pull&Bear. The Group acquires 65% of Massimo
Dutti Group.
1995 Inditex buys 100% of Massimo Dutti’s share capital.
1998 Bershka launches, targeting a younger female market.
1999 The acquisition of Stradivarius makes it the Group’s fifth
concept.
2000 Inditex moves its headquarters into a new building in Arteixo
(A Coruña, Spain).
2001 Launch of the Oysho lingerie brand. On 23 May 2001 Inditex
goes public and is listed on the stock market.
2003 The first Zara Home stores open, the Group’s seventh brand.
Inditex inaugurates its second Zara distribution centre, Plataforma
Europa, in Zaragoza (Spain), supplementing the Arteixo logistics hub
(A Coruña, Spain).
2004 The Inditex Group opens store number 2,000 in Hong Kong,
bringing its presence to 50 countries in Europe, the Americas, Asia
and Africa.
2006 Inditex opens store number 3,000 in Valencia (Spain), a Zara
Home store in one of the city’s busiest shopping areas.
2007 The Group adds two news logistics platforms in Onzonilla
(León) and Meco (Madrid), both in Spain. Inditex has eight logistics
platforms in Spain.
2008 Launch of fashion accesories concept Uterqüe, the company’s
eighth chain. Inditex opens the store number 4,000, this time in
Tokyo.
2009 Stradivarius, Bershka and Pull&Bear open their first stores in
China. Zara reaches 50 stores in Japan.
2010 The Group reached the 5,000-store mark with the launch of a
cutting-edge, eco-efficient Zara store in the heart of downtown Rome
(Italy). In September, Zara began selling its products online and by
year’s end the online store was available in 16 European countries.
2011 All the Inditex concepts have online stores.
For more information.
Communication and Institutional Relations Corporate
Division
INDITEX
+34 981 185 400
Inditex landmarks
2012 Zara renewal its store´s image. Inditex opens store number 6,000.
2013 Zara opens its first store in Algeria. The Group continues to
expand its brands online in new markets such as Canada and Russia.
2014 Zara opens its first store in Albania. The Group continues to
expand its brands online in new markets such as Mexico and South
Korea.
2015 Inditex is over 7,000 stores, with the opening of Zara in Hawai,
and reaches 29 online markets -with the incorporation of Hong Kong,
Macao and Taiwan- which drive a fully integrated and sustainable
model. The company added 330 stores. Financial year-end 2015
marked the end of phase one of the extraordinary profit-sharing plan
announced by the Group, that payed out €37.4 million to the 78,000
employees of stores, factories, logistics, brands and subsidiaries.