Inditex to close up to 1,200 fashion stores around the world

Inditex to close up to 1,200 fashion stores around the world

 

Inditex’s Executive Chairman, Pablo Isla, today unveiled the Group’s plan for the next two years, providing insight into the future strategy of Inditex. Under that plan, the Group will invest €1bn in bolstering the online business and a further €1.7bn in upgrading the integrated store platform, deploying advanced technology solutions.

 

In the words of Pablo Isla, “this strategy is a culmination of the project the company has been investing in steadily and significantly since 2012, a project that will transform its profile notably. The overriding goal between now and 2022 is to speed up full implementation of our integrated store concept, driven by the notion of being able to offer our customers uninterrupted service no matter where they find themselves, on any device and at any time of the day”. 

 

In parallel, Inditex plans to continue with the store upgrade plan underway since 2012 under which it has opened a gross 3,671 stores that are larger, in more high-profile locations and already integrated with online. From that date, the Group, enlarged a further 1,106 stores, refurbished 2,556 with the latest technology and absorbed 1,729 units, 1,024 of which during the last three years.

 

Ultimately, Inditex plans to have a total network of between 6,700 and 6,900 stores, from 7,412 today, which will involve opening 450 new stores fitted with all the latest sales integration technology and absorbing between 1,000 and 1,200 smaller-sized stores, which account for 5% to 6% of total sales and are less well-positioned to offer the new customer experiences. Most of these smaller stores are older stores belonging to brands other than Zara.

 

 

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