Zara confirms Australian entry
Australian market.
Pablo Isla, deputy chairman and CEO of the Spanish based retail giant, confirmed at the company's annual meeting on Tuesday that the company would open its first stores in Australia and South Africa "next year".
While he did not identify which of the company's retail brands will be rolled out in the new markets first, it is inevitable the best known and largest, Zara, will lead the way.
Australia is the next step in an aggressive global rollout of the company, which opened a staggering 343 new stores in 2009 - 98 per cent of them outside its home market of Spain.
As at January 31 it boasted 2.349 million sqm of retail space worldwide. Last year Inditex opened its first stores in Syria while in the early months of 2010 it has entered Kazakhstan, Bulgaria and India, taking to 77 the number of companies it has stores in.
Inditex has long been rumoured to enter Australia and at one stage the local franchise partner, Solomon Lew's son Peter, was planning to open a multi-storey Zara store opposite what is now the Apple flagship in Sydney's George St. But the company is understood to have delayed an Australian foray in favour of concentrating on market closer to home, and those offering higher immediate growth potential in Asian countries. It now has a strong presence in Singapore where it has opened Zara and launched other brands, Pull and Bear and Bershka.
Few details were given at the annual meeting, the announcement almost a postscript in a presentation in which Isla reported a AU$1.88 billion profit despite challenging retail trading conditions in many parts of the world. That was $80 million higher than in 2008. Calculated at a constant exchange rate, sales rose nine per cent in 2009.
Its Spanish sales are accounting for a declining share of its overall business as the global expansion continues - down from 33.9 per cent in 2008 to 31.8 per cent in 2009.
Via
Australian market.
Pablo Isla, deputy chairman and CEO of the Spanish based retail giant, confirmed at the company's annual meeting on Tuesday that the company would open its first stores in Australia and South Africa "next year".
While he did not identify which of the company's retail brands will be rolled out in the new markets first, it is inevitable the best known and largest, Zara, will lead the way.
Australia is the next step in an aggressive global rollout of the company, which opened a staggering 343 new stores in 2009 - 98 per cent of them outside its home market of Spain.
As at January 31 it boasted 2.349 million sqm of retail space worldwide. Last year Inditex opened its first stores in Syria while in the early months of 2010 it has entered Kazakhstan, Bulgaria and India, taking to 77 the number of companies it has stores in.
Inditex has long been rumoured to enter Australia and at one stage the local franchise partner, Solomon Lew's son Peter, was planning to open a multi-storey Zara store opposite what is now the Apple flagship in Sydney's George St. But the company is understood to have delayed an Australian foray in favour of concentrating on market closer to home, and those offering higher immediate growth potential in Asian countries. It now has a strong presence in Singapore where it has opened Zara and launched other brands, Pull and Bear and Bershka.
Few details were given at the annual meeting, the announcement almost a postscript in a presentation in which Isla reported a AU$1.88 billion profit despite challenging retail trading conditions in many parts of the world. That was $80 million higher than in 2008. Calculated at a constant exchange rate, sales rose nine per cent in 2009.
Its Spanish sales are accounting for a declining share of its overall business as the global expansion continues - down from 33.9 per cent in 2008 to 31.8 per cent in 2009.
Via
Great news. Fingers crossed for a Melbourne store first, sadly from what's in the article it'll probably be in Sydney.
Bastards.
Bastards.
!!!!YESSSS!!!!
!!!!AH I could almost cry!!!!
Deep breaths, deep breaths...
!!!!AH I could almost cry!!!!
Deep breaths, deep breaths...
I've just finished a column on this for tomorrow.
Hugely exciting news if you're a consumer, though if I was a retailer I'd probably be suffering through a sleepless night tonight. This is precisely what Australia needs. It'll finally get a great store / brand at this price point of the market AND it's going to force other retailers to really improve: no longer can an Australia retailer depend on the fact that they've got so little competition - they've got to compete at a global level.
Hugely exciting news if you're a consumer, though if I was a retailer I'd probably be suffering through a sleepless night tonight. This is precisely what Australia needs. It'll finally get a great store / brand at this price point of the market AND it's going to force other retailers to really improve: no longer can an Australia retailer depend on the fact that they've got so little competition - they've got to compete at a global level.
Congratulations!
Considering the continental proportions of Australia its baffling why it took the store so long to get there if not for retail politics.
Considering the continental proportions of Australia its baffling why it took the store so long to get there if not for retail politics.
I get a bit emotional when it comes to Zara. =P
Just found this article.
Zara to Murder Australian Fashion Brands Next Year
Just found this article.
Zara to Murder Australian Fashion Brands Next Year
yay! finallly! now this time it would be nice if they actually followed through? im sure ive heard this all before...
Given it's a stock exchange announcement I'd suspect it's a genuine intention.
I do love this from the Herald Sun article:
And the rest. And nearly ever mid-market men's store.
Zara's entry into Australia is expected to pose a big threat to local chains such as Witchery and Country Road.
And the rest. And nearly ever mid-market men's store.
Quite a few articles are popping up now.
I'll keep us in the loop if I find more info.
Zara Business (Smart Company)
I'll keep us in the loop if I find more info.
Zara Business (Smart Company)
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