Inditex Group has reported a 14 per cent growth in net sales, at €5,525 million, for the first half of fiscal 2010 (from February 1-July 31).
During the period, gross profit grew 22 per cent to €3,279 million, leaving the gross margin at 59.4 per cent.
The Group opened 173 stores in 37 different countries in the first half, bringing its worldwide total to 4,780 stores in 77 countries as on July 31, 2010.
During the second quarter (May-July 2010), Inditex entered the Indian market by launching three stores of its fast fashion brand Zara in Delhi and Mumbai.
On September 2, 2010, Zara began to sell its products online in six European countries – France, Germany, Italy, Portugal, Spain and the UK – with a satisfactory customer reception. Zara plans to launch online selling in Austria, Ireland, the Netherlands, Belgium and Luxembourg during the second half of 2010, extending the platform to the US, Canada, South Korea and Japan in the next fiscal.
As on July 31, 2010, 93,976 people worked with Inditex Group, which translates into the creation of 6,900 new jobs during the last 12 months.
– IndiaRetailing Bureau
