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Zara was established by Amancio Ortega Gaona in 1975. Their first shop was in central A Coruña, in Galicia, Spain, where the company is still based.They initially called it 'Zorba' after the classic 1964 film Zorba the Greek, but after learning there was a bar with the same name two blocks away, rearranged the letters to read 'Zara'.
Amancio Ortega's fortune in 2021 is estimated to be around 73.1 billion euros. He has been considered for years as one of the five richest men in the world, although currently he has been left out of the top 10 billionaires worldwide. [22] [23] He is currently the largest shareholder of Inditex, with almost 60-65%. [24] [25]
In 1985, Industria de Diseño Textil S.A. or Inditex was created as a holding company for Zara and its manufacturing plants. [16] In 1988, the company began expanding internationally with the opening of a Zara store in Porto, Portugal. [17] In 1990, the company-owned footwear collection, Tempe, populated in the children's section of Zara stores ...
Zara, as well as its home decor arm Zara Home, were the main contributors to Inditex’s strong performance. The company opened stores across 41 different markets last year, and now has close to ...
Clothing retailer Zara will expand online sales to an additional 106 countries through a dedicated online platform, mostly in Africa.
Where: Online at zara.com and at select Zara stores. Why: Zara has announced its latest collab with Budapest-based label Nanushka. The two have come together to release a collection spanning ...
The origin story of H&M shares common threads with Zara. Technically, it is the world's longest-running retailer. In 1946, Erling Persson, a Swedish entrepreneur, traveled to New York City, where he was greatly intrigued and impressed by the high-volume fashion production he witnessed.
Zara's sales in 2020 made less than half of Shein's sales which is a threat due to Zara's continued popularity. [34] Shein doubled its sales during 2020, with 35% of those sales accounting for Western clients. The reason for Shein's success, even during a pandemic, is due to their incredibly inexpensive clothing.