Zara Is Absolutely Destroying Its Competition

zara

Inditex, the Spanish fashion giant that owns fast fashion chains such as Zara and Massimo Dutti, is experiencing a period of fashion domination.

The company announced its financials on Wednesday and its half-year results are better than anyone expected.

Here are the numbers:

  • a 17% rise in sales to €9.42 billion (£6.9 billion, $10.6 billion);
  • net profit up 26% to €1.16 billion (£850 million,$1.31 billion);
  • 94 new stores opened, bringing the company’s total to 6,777 across 88 countries.

The company’s Zara stores have definitely been the catalyst for sales increases.

Zara and its spin-off Zara Home accounted for the most number of store openings. 24 new Zaras worldwide and 25 new Zara Home stores have opened in 2015.

The company is now pushing hard to take over various markets in Asia, including online stores serving Hong Kong, Macau, and Taiwan.

Sales at Zara have increased 16% in the month since half year results ended.

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Written by Peter Mondrose

Peter Mondrose

Peter Mondrose is the Editor-In-Chief at BusinessPundit. He received his degree in Economics in 1998 and a second degree in Journalism in 2004. He has served as a financial adviser, market trader, and freelance journalist for the last 11 years. When he's not investigating market conditions and reporting on workplace news, he can be found traveling with his wife, dog, and laptop. He can be reached at PeterMondrose@BusinessPundit.com or (929) 265-0240.