The Spanish apparel giant is committed to a global transformation strategy aiming for full sustainability by 2025. By 2020, all of its stores will be eco-efficient and will completely eliminate the use of plastic bags.
Spanish fast fashion retailer Zara saw its net profits in India drop by 13.4 percent during the 2019 financial year to Rs 71.49 crore ($10.75 million) although revenue had increased by 17.7 percent to Rs 1,438 crore.
Nike Inc. announced on Monday it has signed the UN Fashion Industry Charter for Climate Action, committing to a 30 percent reduction in aggregate greenhouse gas emissions by 2030 and net-zero emissions by 2050.
Inditex is another of the big winners in global fashion retail and while its sales and profits increases may not always match analysts’ lofty expectations, it's a consistent performer as it continues to expand globally.
Inditex executive chairman Pablo Isla has nominated Carlos Crespo for the role of CEO of the group. The appointment will be effective in July further to the approval of the board at the annual general meeting.