Inditex: the Spanish fashion giantThe fashion industry in Spain inevitably goes hand in hand with one of its main players in the sector, the Inditex Group. The Spanish multinational clothing company registered a record net income of almost 1.2 billion euros in the third quarter of 2019, although it dropped sharply during the first months of 2020 due to the outbreak of the coronavirus (COVID-19) pandemic and the subsequent economic crisis. However, numbers grew again in the last months of 2020, which finished with a net income of 436 million euros.
The group is so successful that three of its apparel retailing brands have made the list of the most valued brands in Spain.
But with approximately 14.1 billion euros in 2020, Zara was the Inditex brand with the highest global net income, way ahead of the second brand on the list, Bershka, which registered a global net income of almost 1.8 billion euros in that same year.
Inditex and its different marketsIn Spain, the company Zara España S.A. recorded a sales value of over two billion euros in 2020, followed by the also Spanish clothing retailer MANGO, which registered sales of approximately 1.8 billion euros that year. Inditex’s other main competitors include the department store group El Corte Inglés, which registered an annual sales value of 15.3 billion euros in 2019.
Since its creation in the sixties, Inditex has gradually grown to become globally present. As of 2020, the clothing giant had over 6.8 thousand shops across all continents. The group’s global sales have experienced constant growth in the last decade, recording a value of 20.4 billion euros in 2020.