The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Inditex, parent company of Zara, reported a sales increase of 13.5 percent and a 40 percent rise in profits in the first six months of 2023, beating expectations. The company’s sales rose to €16.9 billion ($18.1 billion) while profits increased to €2.5 billion ($2.7 billion), it revealed in an earnings report this week. Inditex did not alter its outlook for the rest of the year.
This comes despite the fact that the Spanish retail giant had slowed the pace of its price hikes in recent months, which it first enacted last year to combat rising inflation.
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Zara-Owner Inditex Says It Will Stop Buying Clothes From Myanmar
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After a military junta took over in 2021, labour rights have eroded in the country; since then, brands have been under pressure to disengage, but their exit could cause economic problems for workers.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.
As the German sportswear giant taps surging demand for its Samba and Gazelle sneakers, it’s also taking steps to spread its bets ahead of peak interest.
A profitable, multi-trillion dollar fashion industry populated with brands that generate minimal economic and environmental waste is within our reach, argues Lawrence Lenihan.
RFID technology has made self-checkout far more efficient than traditional scanning kiosks at retailers like Zara and Uniqlo, but the industry at large hesitates to fully embrace the innovation over concerns of theft and customer engagement.