Inditex: CEO travels to China to meet with Chinese officials
Pablo Isla, the CEO of the Spanish clothing giant, travelled to Beijing to meet with Zhong Shan, China International Trade Rep and Wang Ashun, Mayor of Beijing, to confirm the group's ambitions in the Asian country.
Having arrived on the Chinese market in 2004, the group is now present there in some sixty major cities via a network of 469 stores, including 157 Zara stores. Among the topics addressed at this meeting, Inditex gave the Minister a detailed account of its desire to develop its e-commerce sales in the country. After launching its online store in 2010, the group is indeed turning to local groups who hold places in the market to keep up with the competition.
For his part, the mayor of Beijing received an explanation of the group's ambitions for the Chinese capital, where there are currently 40 stores (including 16 Zara stores), and a catchment area of 11 million inhabitants. Being onsite, Pablo Isla also presented the group's "green" stores, which will allow for 30% savings in energy and pollution. Beijing is indeed a regular victim of smog.
The group, which will close its financial year on 1 February, saw a 6.6% increase in its first three quarter sales, to 12.7 billion euros. Its network extends to 6,570 stores in 88 countries and an online store available in 27 countries.
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