Inditex now holds 100% stake in main local supplier Indiput
Following the strategy of further integrating its partners on the product manufacturing side, Inditex has acquired a 100% stake in its main Spanish supplier Indiput, in which it held a 51% interest since 1997.
According to the official newsletter of Spain's commercial registry, the apparel giant now has a 100% stake in Indiput, being the sole shareholder of the company, which operates a production facility in Naron-Ferrol (close to A Coruña).
In the last few years, Indiput has generated an annual revenue in the region of €70 million. The company, a long-standing supplier of Inditex, benefited from the group's support and from the impact which the corporation founded by Amancio Ortega has had on local textile-related businesses.
Altogether, Inditex collaborates with 7,500 suppliers in Spain, their consolidated revenue reaching €4.6 billion. The apparel giant stated that 59% of its product sourcing comes from the Mediterranean region (Spain, Portugal, Turkey and Morocco), and that it works with other suppliers and manufacturers from 53 different countries.
In 2016, Inditex, the owner of Zara, Bershka, Pull&Bear and Oysho, saw its net income grow 10%, to €3.16 billion, while its sales in the same period rose by 12% to reach €23.3 billion.
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