Inditex, the owner of Spanish clothing and accessories retailer Zara, has reported an increase of 11.5 per cent in its revenue to € 11.7 billion in the first half of the current financial year 2017-18 ended July 31.
The fashion company’s net profit in the first six months stood at € 1.37 billion, up 9 per cent from the same period last year. Its sales during the period too soared 12 per cent to reach € 11.67 billion.
In the first six months, the like-for-like sales for Inditex grew by 6 per cent.
Inditex launched around 113 new stores, including a Zara store in Mumbai (India), Madrid (Spain) and Astana (Kazakhstan). The company’s total number of stores now stands at 7,405 against 7,096 at the end of July last year.
Additionally, Dow Jones Sustainability Index (DJSI) placed Inditex among the most sustainable companies in the retail industry for the second year in a row during the period under review.
The retailer will now launch its online services in India (on 4 October this year). The launch of the online platform will further add fuel to its market size in the country. Currently, Inditex operates in 94 markets, 46 of which have an online presence.