Inditex says it is a benefit for Spanish economy

Inditex says it is a benefit for Spanish economy

Inditex is a benefit for the economy, especially the Spanish one, which is currently in difficulty. Last year alone the company created 10,800 new jobs, most in the home country. That is what chairman Pablo Isla said at the general shareholder’s meeting of the parent company of Zara and Massimo Dutti.

Expansion despite crisis

Despite the big economic crisis in Spain the company has kept expanding the past few years.Since 2007 sales have risen by 69%. It grew from 9.4 billion euro to 15.9 billion euro last year. The past few years the chain has started focusing on the upcoming markets of Southeast Asia, Latin America and Eastern Europe. Europe is still worth 66% of global sales though.

 

Last year Inditex directly invested about 1.4 billion euro. The biggest chunk of that money went to new logistic platforms in Spain. The headquarters in Spain was also expanded, creating more jobs.

 

Next to jobs it creates at its own company, Inditex also creates more jobs at its suppliers. The company made orders of over 3.4 billion euro at more than 6,600 Spanish businesses.

 

Inditex emphasises own sustainability

Inditex also emphasises its sustainability in other places. The company performed over 3,500 inspections of production conditions at suppliers. Inditex claims more than 91% of productions are supplied by companies with the highest rating.

 

By 2020 Inditex also wants all of its shops to be more eco-efficient. That means pushing back water consumption by 50% and usage of electricity by 30%.

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