News

The Spanish retailer best known for its flagship brand "Zara" announced today that its net sales had increased to 7.7bn Euros and that it until 31st October 2009 had opened 266 stores across its field of operation. Contributing significantly to its increase in sales was the opening of 90 stores in Asia which seems to be of growing strategic importance to Inditex. A development which may be necessary as the Spanish economy still is in disarray and is estimated to be in recession until 2011 forcing Inditex to look elsewhere to secure its sales. Spain is believed to contribute about 1/3 of the company's sales.



On 2nd October Inditex signed a collective agreement with UNI Global Union which put on paper the good labour labour already practiced by the company. Thus, workers now have it on paper that when working for Inditex they can join a union of their own choice and have the right to collective bargaining. Also, Inditex agrees that the company will repect other of the core ILO conventions and will be aware of these when they chose partners to work with. You can read and the download the agreement in both English and Spanish at. www.uniglobalunion.org/multinationals



For more on the company and its performance visit these links:

http://www.uniglobalunion.org/Apps/iportal.nsf/pages/20090202_vhfkEn

http://www.ft.com/cms/s/3/3d16f194-e56f-11de-81b4-00144feab49a.html?nclick_check=1

http://www.inditex.com/en/press/press_releases/extend/00000768