Spanish fashion giant Inditex on Friday revealed it will increase its investments by 15 per cent to 690 million euros in 2004 from 600 million euros in the prior fiscal year.

The owner of the popular Zara brand said the vast majority of the sum will be spent on the opening of 360 new stores and the renovation of its current 1,800 shops.

The remaining 20 per cent will be allocated to its logistics and production operations.