Zara

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Zara is the leading retail chain of the Inditex group of companies, owned by Spanish tycoon Amancio Ortega. The company also owns several other brands, including Massimo Dutti, Pull and Bear, Oysho, Zara Home, Uterqüe, Stradivarius, Lefties, and Bershka.

History

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The first Zara store was opened in 1975 by Amancio Ortega in La Coruña, Spain. The company's headquarters is still located in La Coruña, Galicia, Spain.

Business Strategy

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Zara is known for its fast and flexible production system, which allows the company to take just two weeks from design development to a new line on sale, compared to the industry average of six months. This is made possible by the company's ability to quickly respond to changing fashion trends and consumer demand.

According to reports, Zara launches around 10,000 new designs every year. The company has resisted the trend of placing production points in countries with low cost of production, instead choosing to invest part of its profit in opening new outlets rather than advertising costs.

Recognition

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Zara's innovative and disruptive business model has been recognized by industry experts. Louis Vuitton fashion director Daniel Piet described Zara as “perhaps the most innovative and disruptive retail chain in the world.” CNN also referred to Zara as a “Spanish success story.”

References

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