![]() Since becoming fabulously wealth, he's also become something of a real estate tycoon, with a portfolio worth at least an estimated $4 billion. He leads a quiet life in La Coruña, a seaside town near Inditex's headquarters in Arteixo. The son of a railway worker, he founded Inditex with former wife Rosalia Mera, also a billionaire, making lingerie and dressing gowns in their living room. Ortega himself-who owns nearly 60% of Inditex-stays out of the spotlight, never granting interviews. He stepped down as chairman of Inditex, but reportedly remains very involved in the business. Investors also like that Zara launched a website targeted at Americans in September. That speed, combined with lovely presentation, has allowed Inditex to thrive: same-store sales are up 6% or so, while European competitors like H&M are relatively flat. And they move out of Zara stores within weeks. In her spare time enjoys a passion for horseriding and languages.Inditex is something of a supply chain marvel: clothes move from concept to design to the Zara stores in a matter of days. Since then, she has worked her way up, most recently working on Zara’s brand image, and She has worked for Inditex since the age of 23, when she landed a role as shop assistant in a London store. “The strength and adaptability of the business model and the excellent performance of our creative, sales and operating teams are driving that differentiation forward, underpinned by a strategic focus on innovation, digitalisation and sustainability,” he said in a statement.īorn in 1984 in Vigo, Spain, Ms Ortega Pérez is the only child of the Inditex’s founder and his second wife, Flora Pérez. He added the welcome results were thanks to a “well-differentiated model that is delivering strongly”. Picture: iStockĬEO Garcia Maceiras told analysts, Inditex would keep raising prices in the next quarter, but that the focus on affordable fashion would remain. ![]() Zara’s parent company has enjoyed bumper results in the first quarter. ![]() The impressive results were attributed to a boom in fashion spending post-lockdown, with Zara attracting customers despite jacking up prices at a time when cost of living pressures were weighing heavily on the market.Īnd the profits would have been higher still – at €940 million ($A1.4 billion) – if it were not for Inditex’s €216 million ($A324 million) provision for estimated costs related to Ukraine and Russia for all of 2022. That’s a $A480.6 million increase from the same time last year – and while Ms Ortega Pérez was only at the helm for a third of that period, it’s a seriously solid beginning, especially given the brutal misgivings many expressed when her promotion was first revealed.ĭuring the first quarter, sales also jumped by 36 per cent to €6.7 billion ($A10 billion), and the company’s gross margin reached a decade high, with the news sending shares up by 5 per cent last week. Picture: Jamie McCarthy/ Getty Images North America/AFP ![]() Anna Wintour, Marta Ortega and Diane von Furstenberg attend the CFDA/Vogue Fashion Fund 2019 Awards at Cipriani South Street in New York City. ![]()
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