Inditex has announced the launch of nine new online markets
1Q Net sales at Inditex hit a new record of €5.93 billion
Inditex has registered net sales year-on-year growth of 5%. Net profit amounted to €734 million, 10% more than in the first quarter of 2018. The company’s net cash position increased by 9% to €6.66 billion.
Inditex’s Chairman and CEO, Pablo Isla, said that these figures demonstrate “the solidity of the company’s model, whose profitability and cash flow generation continues to grow owing to the Group’s commitment to customer-driven quality fashion”. Isla also underscored the “strong momentum in the digital transformation of the integrated store and online sales platform and in sustainability as a key pillar of the company’s strategy”.
Inditex has announced the launch of nine new online markets. In addition to going live with www.zara.com in Brazil during the first quarter, the Group has just inaugurated its online platform in Morocco, Egypt, Lebanon, Israel, Serbia, Indonesia, the United Arab Emirates and Saudi Arabia.
During the Autumn, Zara is planning to launch online sales in South Africa, Qatar, Kuwait, Bahrain, Oman, Jordan, Colombia, Philippines and Ukraine.
Source: Inditex Headquarters- Arteixo, SpainEurope News Retail