Inditex’s net sales rise by 15 percent

The Inditex Group generated net sales of 3.4 billion euros

(US$4.2 billion or Rs 23,400 crores) in the first quarter of 2012, a rise of 15 per cent over the same period last year. Net income amounted to 432 million euros (US$542 million or Rs 3,019 crores), 30 per cent more than in the first quarter of 2011.

During the first quarter, Inditex redoubled its commitment to investing in Spain with the commencement of construction work on the expansion of the group’s headquarters in Arteixo (Galicia). The new extension will add 70,000m2 to the existing 90,000m2 which house the group’s shared corporate services and the sales, creative and design teams of Zara and Zara Home. The extension, which will entail an investment of 100 million euros (US$ 125 million or Rs 696 crores), will generate around 400 new jobs. The group will also invest a total of 190 million euros (US$238 million or Rs 1326 crores) in the Tordera expansion, generating around 500 jobs.

Inditex, a fashion retailer, with headquarters in Spain, has a presence in Asia, America and Europe. It has eight store formats--Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe . At quarter end, the group is present in 84 markets with 5,618 stores including 91 new stores opened during the quarter. The new stores were opened in 26 different markets. Zara plans to launch online sales in China in September.