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07/19/2010
The international brand created in Spain is set to open between 365 and 425 new shops abroad in 2011.
At its latest General Shareholders Meeting, Spanish fashion giant Inditex, has just announced its growth plans for 2011. Australia and South Africa are set to become the next big targets on a list that includes India, China, Japan and Korea.
According to Inditex Deputy Chairman Pablo Isla, the aim is to step up the group’s presence, above all its flagship Zara, and between 365 and 425 new shops in different foreign markets will be opening in the process, with a special eastern emphasis.
In the course of 2009, Inditex opened a total of 343 shops, 98% of which were in foreign markets, specifically in 46 different countries. In the first six months of 2010, it made its entrance into Syria, Bulgaria, Kazakhstan and India, with an investment of 510 million Euros.
In 2009, the group notched up net profits of 1,314 billion Euros. It will now be spending 570 million Euros on its more short-term objectives.
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