Inditex increased its year-on-year net sales by 6% in the first nine months of its 2009 fiscal year – which runs from February 1st to October 31st – to 7,759 million euros. Sales in local currencies rose by 8%. Net income totalled 831 million euros. The retailer launched 266 new stores in the first nine months, bringing the Group’s total number of stores to 4,530 at the end of October. Key highlights for the period included openings in Asian markets, with 90 new establishments inaugurated by October 31st.
These store openings reflect the strategic importance of Asian markets for the Group and underscore a year of robust growth in China, Japan and South Korea. High points of store launches so far this year include flagship locations in Japan and mainland China.
In Japan, Zara now has a total of 50 stores, including a second flagship location in Tokyo’s Shibuya district, which is a must-see global fashion destination. Prior to this opening, Zara had already welcomed shoppers at another upscale store in Shibuya. Zara thus enhances its excellent retail presence in Tokyo’s four key shopping areas: the two aforementioned flagship stores in Shibuya, two each in Ginza and Shinjuku, and one in Harajuku.
Meanwhile, in Beijing the Group celebrated the opening of a flagship location in one of the Chinese capital’s busiest shopping hubs. The store, which opened its doors on the pedestrian Wangfujing Street, brings the Group’s number of stores in China to more than 60. The company’s firm commitment to expansion in the Chinese fashion market is reflected in its decision to locate shops not only in Beijing and Shanghai but also in emerging cities such as Harbin, Dalian, Qingdao, Changchun and Kunming.
— IndiaRetailing Bureau