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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 ...
Zara's success was in part due to its strategy of imitating popular fashions and quickly making them for sale at inexpensive prices. [3] Ten years after the opening of the first Zara store, Inditex was established as a holding company for the couple's businesses. [4] Inditex now comprises multiple fashion companies, of which Zara is the ...
Clothing retailer Zara will expand online sales to an additional 106 countries through a dedicated online platform, mostly in Africa.
Why: Zara has announced its latest collab with Budapest-based label Nanushka. The two have come together to release a collection spanning across menswear, homeware, and jewelry.
For example, up to 85% of Zara's merchandise can be changed in the middle of the season: [21] A fast fashion system like Zara's can quickly update designs, resulting in short product cycles where a garment does not sit on the stores' shelf for long periods, giving the store a sense of exclusivity and raising the attractiveness of an item. [21]