The story
Founded by Amancio Ortega on Jun 12, 1985, in Arteixo.1
1960s and 1970s
In the early 1960s Amancio Ortega started his own business in the clothing industry while working for a local shirtmaker in A Coruña, Spain. Ortega began developing his designs and he and his wife Rosalia Mera started making clothes in their home. Amancio had saved up enough money to open a small factory and sold garments to his former employer, among others.
In 1975, the couple opened their first store, Zara, which produced popular fashion at low prices. The following year, Zara was incorporated and began opening more stores and factories in Spain. Later that year, after noticing the growing importance of computers, Ortega hired a local professor, José María Castellano, to develop the company's computing power.
1980–2000
In the 1980s, the company implemented a new design and distribution method that drastically reduced the time between design, production, and arrival at retail sites. The system was designed by Castellano, who became the company's CEO in 1984. In 1985, Industria de Diseño Textil S.A. or Inditex was created as a holding company for Zara and its manufacturing plants.
In 1988, the company began expanding internationally with the opening of a Zara store in Porto, Portugal. In 1990, the company-owned footwear collection, Tempe, populated in the children's section of Zara stores. In 1991, Inditex created the company Pull and Bear, a casual menswear company. Later that year, the company also acquired a 65 percent share in the upscale Massimo Dutti brand. Inditex created Lefties in 1993; the name is taken from the term leftovers, and it was created to sell old Zara clothing. In 1995, Inditex purchased the remaining Massimo Dutti shares and began expanding the brand to include a women's line. In 1998, Inditex launched the Bershka brand that was aimed at urban hip fashion. The company bought Stradivarius in 1999, a youthful female fashion brand.
2001–present
Inditex had its initial public offering (IPO) in 2001, on the Bolsa de Madrid. The IPO sold 26 percent of the company to public investors, the company was valued at €9 billion. The same year, the company launched the lingerie and women's clothing store Oysho. In 2003, Inditex launched the Zara Home brand, which offers bedding, cutlery, glassware and other home decoration accessories. In 2004, with the opening of store number 2,000 in Hong Kong, Inditex had established its presence in 56 countries.
In 2005, CEO Jose Maria Castellano stepped down from the position to oversee expansion plans, he was replaced by Pablo Isla. Inditex launched Uterque in the summer of 2008, the brand specializes in women's accessories. During the same year, the company opened its 4,000th store in Tokyo after doubling in size within four years. In 2011, Ortega, the founder of the business and majority shareholder, stepped down as deputy chairman and CEO Isla handles day-to-day operations. Later that year, the company opened a store in Australia, a move that would put the company on five continents and in 77 countries. After the 2013 Savar building collapse, Inditex was one of the thirty-eight companies who signed the Accord on Factory and Building Safety in Bangladesh.
As of 2019, Inditex is the biggest fashion retailer in the world by revenue. The company's revenue fell by 18% to $1.85 billion in the final quarter of 2020, primarily due to the fall in retail sales as a result of the coronavirus pandemic. Inditex's stocks fell by 12% over the year. In May 2021, Inditex said that all its stores in Venezuela would close as it will review its agreement with its local partner, Phoenix World Trade. In the three months to 30 April 2023, the group reported a 13% increase in sales to £6.54 billion and a 14% rise in profit to £3.96 billion. Inditex announced plans to open 200 new Lefties stores across Europe, including the UK and France, in 2026. This expansion is part of the company’s efforts to grow its budget fashion segment.
From Wikipedia’s article on Inditex, shared under CC BY-SA 4.0.5