Retailers Plan Bangladesh Factory Inspections Under Safety Pact

Inside a Bangladeshi garment factory | Source: Reuters

ZURICH, Switzerland — A group of mainly European retailers has finalized a plan to conduct coordinated inspections of factories in Bangladesh in an attempt to prevent a repeat of the Rana Plaza disaster that killed 1,129 people in April.

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Chinese Malls Waive Rents as Vacancies of 30 Percent Loom

TaiKoo Hui Mall, Guangzhou, China | Source: Shutterstock

BEIJING, China —Chinese landlords are forgoing rent and paying to outfit stores for mass-market fashion brands including Zara and H&M, a bid to blunt the impact of a boom in shopping-mall construction that threatens to push up vacancies.

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Mango Mirroring Zara Challenges Europe’s Wealthiest Man

BARCELONA, Spain — Two years ago, Spanish retailer Mango could barely convince its employees to wear its dresses, skirts, and blouses, which many workers — and customers — thought were too formal. Today, Mango has ditched the glitz in favor of more casual attire like that from Spanish rival Inditex SA, the world’s biggest seller of apparel and owner of the Zara brand. The change has helped Mango outpace Inditex in Spain’s 16.2 billion-euro ($21 billion) clothing market. “We had gone way too far with our focus on clothes for parties and events,” said Enric Casi, general manager of the Barcelona-based retailer. “Not even our employees wore Mango.” The casual push wasn’t the only lesson Mango took from Arteixo, Spain-based Inditex as it…

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Inditex 2012 Profit Leaps 22 Percent On New Markets

Inditex Headquarters in La Coruna, Spain | Source: Inditex

MADRID, Spain — Zara owner Inditex tapped fashion-hungry consumers in new markets in 2012 to grow net profit by 22 percent even as austerity-hit shoppers in Europe tightened belts. The world's largest clothing retailer, which runs eight brands, posted net profit of 2.4 billion euros ($3.1 billion), opening new stores in 64 markets. It entered markets like Georgia, Bosnia and Ecuador for the first time.

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Inditex E-Commerce Sales Soar

Zara store | Source: Courtesy

LONDON, United Kingdom — According to an estimate released this week by Credit Suisse, Inditex, the Spanish company that owns ‘fast fashion’ giant Zara, will achieve online sales of over 600 million euros in 2013, almost double that of 2012, the results of which will be announced next week.

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