Inditex

Amancio Ortega started in the clothing industry in the early 1960s while working for a local shirt maker in A Coruña, Spain.[11] Ortega began developing his designs and he and his wife, Rosalia Mera, started making clothes from their home.[9][12] Amancio had saved up enough money to open a small factory and sold garments to his former employer, amongst others.[9]

In 1975, the couple opened their first store, Zara, which produced popular fashion at low prices.[9][10] The following year, Zara was incorporated and began opening more stores and factories in Spain.[9] Later that year, after Ortega noticed the growing importance of computers, a local professor, José María Castellano, was hired to grow the company's computing power.[9][13]

In the 1980s, the company implemented a new design and distribution method that drastically reduced the time between design, production, and arrival at retail sites.[14] The system was designed by Castellano, who became the company's CEO in 1984. In 1985, Industria de Diseño Textil S.A. or Inditex was created as a holding company for Zara and its manufacturing plants.[15] In 1988, the company began expanding internationally with the opening of a Zara store in Porto, Portugal.[16] In 1990, the company-owned footwear collection, Tempe, populated in the children's section of Zara stores.[17] In 1991, Inditex created the company Pull and Bear, a casual menswear company.[18][19] Later that year, the company also acquired a 65 per cent share in the upscale Massimo Dutti brand. Inditex created Lefties in 1993; the name is taken from the term leftovers and it was created to sell old Zara clothing.[20] In 1995, Inditex purchased the remaining Massimo Dutti shares and began expanding the brand to include a women's line.[21] In 1998, Inditex launched the Bershka brand that was aimed at urban hip fashion.[22] The company bought Stradivarius in 1999, a youthful female fashion brand.[9]

Inditex had its initial public offering (IPO) in 2001, on the Bolsa de Madrid.[23] The IPO sold 26 per cent of the company to public investors, the company was valued at €9 billion.[24] The same year, the company launched the lingerie and women's clothing store Oysho.[25][26]

In 2003, Inditex launched the Zara Home brand, which offers bedding, cutlery, glassware and other home decoration accessories.[27] In 2004, with the opening of store number 2,000 in Hong Kong, Inditex had established its presence in 56 countries.[28]

In 2005, CEO Jose Maria Castellano stepped down from the position to oversee expansion plans, he was replaced by Pablo Isla.[29] Inditex launched Uterque in the summer of 2008, the brand specializes in women's accessories.[30] During the same year, the company opened its 4,000th store in Tokyo after doubling in size within four years.[28] In 2011, Ortega, the founder of the business and majority shareholder, stepped down as deputy chairman and CEO Isla handles day-to-day operations.[28] Later that year, the company opened a store in Australia, a move that would put the company on five continents and in 77 countries.[31] After the 2013 Savar building collapse, Inditex was one of the thirty-eight companies who signed the Accord on Factory and Building Safety in Bangladesh.[32]

As of 2019, Inditex is the biggest fashion retailer in the world by revenue.[33]

The company's revenue fell by 18% to $1.85 billion in the final quarter of 2020, primarily due to the fall in retail sales as a result of the coronavirus pandemic. Inditex's stocks fell by 12% over the year.[34]

In May 2021, Inditex said that all its stores in Venezuela would close as it will review its agreement with its local partner Phoenix World Trade.[35]

In the three months to 30 April 2023, the group reported a 13% increase in sales to £6.54 billion and a 14% rise in profit to £3.96 billion.[36][37]

Bold indicates a company shareholder and the representative will be listed below.