Inditex, maison mère de Zara, bat des records de profits

In 2022, the Spanish ready-to-wear giant has a profit of more than 4 billion euros, up 27 % compared to 2021.

by Sandrine Morel (Madrid, correspondent)

While the clothing sector lives in France an unprecedented crisis, with the closings of Camaïeu and San Marina or the judicial recovery of Kookai, Go Sport and André, in Spain, the Inditex group, parent company of Zara announced exceptional results on Wednesday March 15, which pulverized all its records. Between the 1 er February 2022 and January 31, 2023, the sales of the world leader in fashion, which holds, in addition to Zara, Pull and Bear, Bershka, Stradivarius, Massimo Dutti or Oysho, were raised at 32.57 billion euros. Or an increase of 17.5 % compared to 2021. With 4.13 billion euros in net profits, the Spanish giant sees not only leaping its results by 27 % compared to 2021, but it far exceeds those of 2019, Before the Pandemic of Covid-19 (+13.5 %).

Group spearheads, Zara and Zara Home represent 70 % of the group’s total sales and 74 % of net profit. With nearly 23.8 billion euros in turnover (+21 %), the ready-to-wear brand alone achieves almost as much as the turnover posted in 2022 by the whole of the French clothing sector (26.2 billion euros, according to figures from the French fashion institute).

The year 2022, who saw Marta Ortega, the daughter of Amancio Ortega, the founder of the group (created in 1985, but whose origins date back to 1963 in Galicia), take the reins of the company, S ‘ announced, however, complicated. Very present in Russia, its second market behind Spain, Inditex made the decision to close all of its 514 shops at the start of the war, before selling them, in October, to the Lebanese group Daher. In Ukraine, its 81 stores are always closed.

The diversity of markets, key to success

The losses caused on these two markets were offset by the increase in sales “in all geographic areas, both in physical shops and in online trade, and in all brands,” said the director General, Oscar Garcia Maceiras. The United States has replaced Russia as the second country in terms of sales, behind Spain which represents 14 % of turnover.

The diversity of markets is one of the keys to Inditex’s success, of which 47 % of turnover comes from the rest of Europe and 20 % of America. He adapts his strategy there, according to the specificities and maturity of each country. The uterque brand has been closed, and Stradivarius, Pull and Bear and Bershka left China in 2022. Conversely, in 2023, the first Oysho shops will open in the United Kingdom and Stradivarius will appear on the market German. The used Zara clothing platform, Zara Pre-Owned, inaugurated in the United Kingdom in 2022 will arrive in France and Germany this year.

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