SPAIN: Zara To Float Next Spring
Amancio Ortega Gaona, the reclusive Spanish billionaire, is to float Inditex, the parent company of the 1,027 store Zara fashion chain next Spring, the Evening Standard reported yesterday. The UK, along with Germany, is his new target for expansion. Zara has a rare acumen for the tricky business of fashion retail - while rivals struggle to stock four new collections a year, Zara takes less than three weeks to analyse store feedback, create new designs and deliver them to its outlets. This speedy response to fickle demand has allowed Inditex to double its sales to e2.03bn ($bn) over the past four years and generate operating profit margins of 15 per cent.
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