A flagship Zara store will open in Lisbon in mid-November
MADRID, 2 Oct. (EUROPA PRESS) -
The CEO of Inditex, Oscar García Maceiras, has announced that 'Zara Pre-Owned', the fashion brand's second-hand clothing platform, will arrive in Spain in the "coming months", after it has already been launched underway in the United Kingdom and France.
Specifically, the chief executive of Zara's parent company has recalled that the company has committed, in its firm commitment to sustainability, that by 2025 the second-hand platform will reach all of the group's 'core' markets.
"Shortly, in a few months it will also arrive in Spain. Our initial objective for this year was to reach France and Germany. We have already arrived in France in September and we are working so that it is not only Germany, but probably to be able to reach all of the countries of the euro zone, including Spain, so that it arrives before the end of the year", he advanced during his participation in the III Retail and Mass Consumption Forum, organized by 'El Economista'.
García Maceiras has reiterated that the Inditex model is "robust, but at the same time flexible to adapt to any change", betting on a "fully integrated" model, where the physical and online feed each other. "It is no longer possible to explain the strength of online sales without taking into account the support that physical stores provide," he reiterated.
In this context, the CEO recalled that Inditex seeks to have "larger stores" where it can offer all its lines and products, as well as continuous improvement in payment processes, and developing a set of projects to offer reasons every day. additional features to make visiting them "attractive".
"What we envision are stores where the customer experience is increasingly pleasant, we firmly believe in contact between our customers and our teams in the store, but a contact that adds added value," he stressed.
García Maceiras has stressed that in this "integration process" "opportunities and alternatives for improvement" are being identified to continue opening new stores. "We are going to open emblematic stores in Lisbon in mid-November, where three spaces will be combined into one. They are stores that are large enough to offer these spaces.
Regarding the Spanish market, García Maceiras explained that new stores are opening, renovating or relocating spaces. "We have never set a goal of reaching a certain number of stores, today we have a more selective and qualitative growth," he noted.
In this way, new Zara stores are planned to open in Seville, Zaragoza and Valladolid, with larger stores that will replace previous establishments. "But that does not only apply to Zara, recently Stradivarius has opened a very emblematic store on Paseo de Gracia or Zara Home on Hermosilla street in Madrid, Pull
In the new store concepts that are opening, Inditex is committed to continuing to offer "new experiences" and new specific spaces such as footwear and bag corners.
The textile multinational announced an investment of 1.6 billion euros by 2023, which was focused on improving physical stores, logistics and digitalization and will continue to invest.
"We are ambitious to continue investing and we will continue investing everything that is necessary for the sustainable future growth of the group. Obviously with financial discipline, controlling expenses, seeking the greatest efficiencies, but not being stingy in investing everything. necessary for that growth," he explained.
On the other hand, García Maceiras trusts and works to ensure that the group remains "attractive" for investors. "We want to maintain an attractive remuneration for investors," she said, without wanting to comment on whether the dividend will be raised for next year, a decision that will be made at the board of directors in March.
Regarding business margins, the CEO stressed that his objective is to have "a healthy income statement in all lines." "The margins are the result of the execution of that model and we are focused on its proper execution. We are extraordinarily disciplined in expenses and it gives you an operating margin that is healthier," he highlighted.
Thus, the manager has reiterated that Inditex aspires to "be the reference employer brand in all the markets" in which they are present.
Asked if the group is worried about the presence of some brands such as the Chinese online giant Shein, the manager focuses on his company's business and the development of its brands, without the need to launch new brands on the market. "In the end we have to take into account that retail and fashion is an enormously fragmented sector," he stressed.
"The fashion retail sector is enormously fragmented in all markets, in the United States, which is our second market, we only operate through Zara, and of every 100 dollars spent on fashion, we capture 50 cents, so the room for growth is enormous," he explained.