Inditex to continue Zara’s expansion in India
Zara plans to close down between 1,000 and 2,000 global stores, with the majority being in Asia and Europe. However, the brand has already signed agreements with several mall developers in India to open new stores in the country, TNN reported. Zara also plans to expand some of its existing retail outlets in India.
“India won’t see covid-related shuttering of stores, but there could be some category B cities, where they could close,” property consultancy business Knight Frank India’s director Abhishek Sharma told Livemint. “The reason could be that they consolidate their stores in India. If anything, they will take up more space.”
Like many retailers, Zara plans to focus on digital sales, driven by changing consumer trends caused by the coronavirus pandemic. The brand plans to invest in e-commerce across the countries it operates in.
Zara entered the Indian market in 2010 and currently has 22 stores in the country. The brand operates in India through a joint venture with Trent under Inditex Trent Retail India Private Limited. Amancio Ortega founded Zara in Spain in 1975 and the fashion group owns a number of brands including Bershka, Pull & Bear, and Zara Home.
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