Zara SA, the Spanish apparel retailer which specializes in fast fashion, and products include clothing, accessories, shoes, swimwear, beauty, and perfumes. plans to invest one billion dollars to boost its online sales over the next three years. It is the largest company in the Inditex group and the world’s largest apparel retailer.
The post COVID scenario will be focused more on E-commerce as stores have begun to open worldwide. The company aims to have 25 percent of total sales through its online model by 2022.
It is also spending USD 1.7 billion on upgrading its stores to become more integrated with its online platform by “deploying advance technology solutions” as said. The Spanish fast-fashion retailer announced the news on Wednesday, along with announcing it’s first-quarter earnings.
Inditex, which has nearly 7,500 stores across the globe has rapidly expanded in the last 15 years opening stores in 96 different countries.
Zara stores cozy up to the most famous brands in the world to sing their luxury ambitions even as they profit off a brilliant, cheap, short supply chain that delivers similar fashion at a much lower price.
Zara has made its name as one of the fastest-growing brands in fashion retail. By the end of the first quarter, only 965 of its stores were open during the global lockdown yet its online sales increased by 95 %, being overall up by 50 % in the first quarter.