- Reuters
Zara owner Inditex boosted by pick-up in Spring sales
MADRID (Reuters) -Zara owner Inditex reported a pick-up in recent sales from its Spring/Summer collections, boosting its shares on Wednesday as the world's top fashion retailer delivered quarterly results in line with expectations. Inditex also reported a 7% rise in sales for its first quarter to the end of April, an expected slowdown from a year earlier when it benefited from a post-pandemic shopping spree. The company, whose brands also include Pull&Bear and Massimo Dutti, is battling intense competition from the likes of H&M, Shein and Temu by chasing and delivering fashion trends faster through investment in logistics and technology.
- Reuters
After China, Zara expands live shopping experiment to Europe and US
Zara will expand its live shopping broadcasts to the UK, Europe and the United States this year, testing a format that is already wildly popular in China but one with which Western shoppers are less familiar. The fast-fashion brand, whose parent Inditex reports quarterly results on Wednesday, is investing in new ways to engage shoppers as analysts expect sales to grow less strongly after an extraordinary post-pandemic surge. Five-hour long live shopping shows in China, broadcast weekly on Douyin, TikTok's Chinese sister site, have helped boost Zara's sales since they launched in November, according to retail analytics firm EDITED.
- Reuters
Spanish retail giant Inditex opens Zara franchise in Caracas
Spanish fast fashion retailer Inditex on Thursday relaunched its business in Venezuela with the opening of a Zara store via a franchise agreement. In 2021, Inditex, which also owns Bershka, Pull & Bear and other brands, closed all the group's shops in the South American country, following a revised franchise agreement with then local partner Phoenix World Trade. The company confirmed in January that it planned to restart activities in Venezuela in the first half of 2024 with local partner Grupo Futura.
