Owner of Zara chain makes steady progress
Inditex, the Spanish owner of the Zara fashion chain, saw profits surge 12 per cent last year despite the eurozone crisis battering its huge operation on the Continent.
Inditex said profit for the year rose to €1.93bn (£1.6bn) as turnover jumped 10 per cent to €13.8bn.
In addition to the Zara chain it has been expanding the global footprint of its other fashion brands such as Massimo Dutti, Pull & Bear, Bershka and Stradivarius to the UK and further afield.
The company opened 483 new stores last year and now operates 5,527 shops in 82 countries. It opened its first stores in Australia, South Africa, Taiwan, Azerbaijan and Peru last year and plans to open another 520 stores in 2012, and launch online shopping in China.
The group's founder, Amancio Ortega, was recently named the world's fifth-richest man by Forbes magazine, with a total wealth estimated at $37.5bn (£23.6bn).
Last year he stepped down from the day-to-day running of the business that he began as a textile manufacturer in 1963.
Diving in at the deep end is no excuse for shirking the style stakes
- 1 Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
- 2 PornHub begs users to stop uploading video clips of Brazil getting beaten 7-1
- 3 Why I'm on the brink of burning my Israeli passport
- 4 War is war: Why I stand with Israel
- 5 L'Oreal cuts ties with Belgium supporter Axelle Despiegelaere after hunting trip photographs
Game of Thrones author George RR Martin says 'f*** you' to fans who fear he will die before finishing Westeros saga
Loom bands: Bids for dress made from colourful rubber reach almost £154,000 on eBay
Supermoon 2014: When and why will the moon look bigger and brighter this summer?
Gaza-Israel conflict: The terrible price children are paying for Israel’s war with Hamas
Online trolls target alleged rape victim Jada, by copying how she appeared in video of attack
Sustained immigration has not harmed Britons' employment, say government advisers
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
Socialist Worker called to apologise over ‘vile’ article saying Eton schoolboy Horatio Chapple's death is ‘reason to save the polar bears’
War is war: Why I stand with Israel
iJobs Money & Business
£50000 - £70000 per annum: Harrington Starr: Business Analyst Consultant (Fina...
£300 - £350 per day + competitive: Orgtel: My client, a leading bank, is curre...
£28000 - £32000 per annum + pension, 25 days holiday: Ashdown Group: A highly ...
Negotiable: Randstad Education Birmingham: Randstad Education are seeking a Fi...