Inditex has formalized a lease agreement with the Hufvudstaden property company, leader in the Swedish market, which will allow the first Zara store to open in Sweden in the coming year. This first store, with more than 1,600m2, will be located in Hamngatan street, one of the main thoroughfares in the centre of Stockholm.
Inditex is continuing to consolidate the development of all its formats in the main European markets. Among the upcoming openings, the new Zara store in London, at 333 Oxford St (joining New Bond St), stands out, measuring more than 3,000 m2 in the centre of one of the most important shopping areas in the continent. In the next few weeks the first two Zara in Switzerland will open, and another large store – more than 2,500m2 – will open in the centre of Frankfurt.
As for the other chains of the group, Massimo Dutti (already present in the Swedish market) will soon begin operating in the UK, Switzerland and France; Bershka will enter the Swiss, Dutch and French markets, and Pull and Bear in Germany.
Inditex, a company quoted on the Spanish stock markets, closed the last fiscal year with net sales of 3,250 million euros and net income of 340 million euros. Its results for the first half of 2002 have reflected an increase of 25% in sales and 32% in net income. With 1,422 stores of its seven chains in 41 countries, Inditex is one of the main fashion retail groups in the world.
(source: Inditex)
