Retail group Inditex SA is soon to name the chief executive officer that it hopes will help to double the group's size within five years, according to media reports.

Inditex, which is based in Arteixo, Spain, is using recruitment firm Korn/Ferry International to look for potential candidates and is also considering managers already part of the company.

The company said in February that it was considering reshuffling its management with Castellano staying in the position of vice chairman.

The company is facing growing competition within the market place from thriving retailers such as Sweden's H&M, which are likely to benefit from the cheaper garments in Asia now that World Trade Organisation export quotas ended.

Inditex's chairman and chief executive officer Jose Maria Castellano has said that the company isn't planning to significantly increase purchasing in Asia, as it would work against its commitment to high turnover of stock.

Inditex has opened over 1,000 stores since its initial stock offering in 2001, bringing its total number of stores to 2,200 in 56 countries.

The company plans to continue with its store-opening programme after seeing doubled profit and sales within four years.

Inditex sells apparel under brands including Zara, Bershka, Pull & Bear, and Massimo Dutti.