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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'.
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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]
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, Inditex's, stock peaked. [ 3 ] He is the head of the Ortega family , and the second wealthiest retailer in the world.
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 ...
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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 ...
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