Inditex footwear manufacturer Tempe breaks own sales record

Tempe, the Inditex company that designs, markets and distributes the footwear for the group's eight brands, hit the 1.2 euro mark in sales in 2016, according to documents recently submitted by the Spanish retailer.

The footwear company reported sales of 1.23 million euros, representing an increase of 10% on the previous year when it posted sales of 1.11 million euros.

The company, partly owned by Inditex, recorded net profit of 94.84 million euros in 2016, down by 14% on a year earlier according to the company’s financial accounts.

Tempe’s headquarters and manufacturing centres are located in one of Spain’s most important footwear manufacturing hubs in Elche. The company has also subsidiaries in Mexico, Brazil, Switzerland and China.

During 2016, the business contributed 27.49 million euros to Inditex in form of dividends, up from 22.41 million euros in the previous year. Tempe is a 50:50 joint venture between Inditex and Spanish businessman Vicente Garcia Torres.