Zara is the flagship app atomic number 18l chain owned and operated by Inditex of Spain. It was founded by Amancio Ortega, Spains richest man in 2002. Zara specializes in fashionable retail costume and accessories. At the end of fiscal year 2001, Zara was operating 1,284 stores ecumenical and had radical revenue of €3,250 million. Inditexs headquarters and its major assets are located in the Galacia region of Spain. Inditex also operates five otherwise retail-clothing chains: Massimo Dutti, Pull and Bear, Bershka, Stradivarius and Oysho.
When Inditex offered a 23 percent send to the public in 2001, the issue was over-subscribed 26 propagation cosmetic surgery €2.1 billion for the company. At the end of 2001, Zara operated 507 stores outside of Spain generating 54% of the total revenues with a total exchange area of 488,400 meters; including Spain the total selling was 659, 400 square meters.
Zara, which contributes around 80% of group sales, concentrates on three winning principles:
Lower inventories creates scarcity
Short lead times to keep up with current fashions freshness of offering
More styles and more than choices for the customers coupled with an attractive store ambience
COMPANY SITUATION
The current commonwealth of affairs within the company and relative to its marketplace
The global change state market is a consumer-driven industry. Globalization and new technologies allow customers increase access to fashion. As a result, consumers tastes are constantly changing, competition is fierce and companies are forced to respond rapidly in meeting these demands.
Although Zara produces apparel and accessories for men, women and children their overall target customers tend to be fashion-conscious, female, young and middle to upper middle class. The apparel is modeled after current fashionable trends instead of classically knowing clothing.
As a retailer, Zara embarked on a unique strategy to expand and compete within this fickle and frenetic industry. The company...If you destiny to get a full essay, order it on our website: Orderessay
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