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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'.
Net worth Source of wealth 13: Amancio Ortega Gaona Spain: 103 billion: Textiles & fashion . 344: Sandra Ortega Mera Spain: 6.9 billion: Inditex. Daughter of Amancio. 624: Rafael del Pino Calvo-Sotelo Spain: 4.4 billion: Son of Rafael del Pino. Construction 787: Juan Roig Alfonso Spain: 3.6 billion: Supermarkets . 949: Daniel Maté Spain
In 2007, Inditex launched the Zara Home online retail store. [45] Zara joined the e-commerce marketplace in September 2010, launching websites in Spain, the UK, Portugal, Italy, Germany and France. [46] [47] In November 2010, Zara's online presence grew to include Austria, Ireland, the Netherlands, Belgium and Luxembourg. [48]
As of September 2024, Ortega had a net worth of $134.3 billion, making him the second-wealthiest person in Europe after Bernard Arnault and the 11th-wealthiest in the world. [2] For a brief period of time in 2015, he was the richest man in the world, surpassing Bill Gates when his net worth peaked to $80 billion as Zara's parent company ...
The majority of the family's wealth comes from the clothing company Inditex and its flagship store Zara. As of July 2022, the family has an estimated net worth of $110 billion. The head of the family, billionaire Amancio Ortega, is the twelfth richest person in the world. [1] [2] [3]
One low production cost is the investment cost of materials to make a garment. Fast fashion invests in polyester and cotton fabric because they are inexpensive and durable. In 2020 polyester's global price per metric ton was $725 (or 32.9 cents per pound), and the global price for cotton in 2021 was 126 cents per pound.
The March family collection is one of the most important in the world, and is reported to be worth over 1 billion USD. The March family still is one of the richest families in Spain (after Amancio Ortega from Zara). They live between Madrid, Majorca and Gstaad. The Casa March, an imposing villa overlooking Cala Ratjada, Majorca and surrounded ...
The chain was established in 1991 due to the diversification of Inditex's commercial objective, which at that time had only Zara stores. It started out as a brand only for the male public, but after a few years of its creation, it introduced a collection for girls in 1998 that has equaled the male line in sales.