The amazing 76th Mercedes–Benz Fashion Week Madrid (MBFWMadrid) kicked off at Ifema on the 14th of September, and the curtain was rung down on the 17th. The entire four-day Spanish fashion extravaganza fascinated and delighted professional buyers, designers, clients, invited guests, and the over one thousand national and international press who gave excellent coverage to the 41 runway shows and all the other aspects comprising the production of MBFWMadrid 2022. Needless to say, the sponsors got their money’s worth. And everyone is holding their breath for the next extravaganza!
Since opening last 8 April, the Zara megastore at Plaza España has been converted, perhaps inadvertently – or is it? – into a tourist attraction! This Zara, and its sister-store Stradivarius on the west wing of Edificio España, were the first Inditex stores to be opened immediately after heiress Marta Ortega assumed her post as Chairperson of Inditex, the world's largest apparel retailer. The inauguration of this Zara marks Marta Ortega’s debut in the stratosphere of Inditex’s hierarchy.
The Royal Theatre in Madrid has Nyeted the Bolshoi Ballet, which was scheduled to perform in May, "in view of the armed conflict that Russia has unleashed in Ukraine that is causing a serious global crisis and a painful humanitarian emergency." Earlier, the Royal Theater showed its "profound respect and solitary" with the Ukrainians when in the last performance of the sublime Wagner opera, "Twilight of the Gods," the corpse of Siegfried was wrapped in the flag of Ukraine.
Inditex SA, the world’s largest clothing retailer, and Zara’s parent company, has been hit hard by the pandemic, with a sales decline of 44% to €3.3bn/$3.8bn during the first quarter of its financial year. Considering the sharp downturn in sales, one will understandably wonder about Inditex’s relatively small loss. Here is why: online sales rose significantly during the worst period of the pandemic. Today, the giant Spanish retailer looks forward to the challenges of the post-COVID19’s new reality with self-assurance and an unmatched in-store and online retailing savvy.
Madrid’s Sustainable Fashion Week reflected a growing awareness that fashion needs to be more sustainable. Actually, “circular economy is bubbling everywhere, in every sector, in everything we do here in Spain,” Patricia Astrain, founder of Recircular, observes. “It’s a great moment for us to move forward and push for it.”
Forecast: the Spanish economy will maintain a robust growth path: after growing at a rate of 2.6% in 2018, GDP is expected to expand by 2.2% in 2019. Meanwhile, Inditex is on the up and up. Three Spanish companies were highlighted at the Sustainable Growth meeting in Tsukuba within the framework of Japan's G20 presidency, etc. etc.
Would Pablo Isla of the global fashion giant Inditex be Best Performing CEO in the world if his company weren’t eco-friendly? Surely not! Performance on environmental, social and corporate governance (ESG) issues makes up 20% of a CEO's overall score per Harvard Business Review. It's about "CEO activism", crucial in Isla's achievement of the title of the world's Best CEO in 2017 and 2018
Zara on Oxford Street, London: the heir presumptive worked here!
By Natalie McNeal Photos: Natalie McNeal, etc.
One of the main things I have noticed since working in Madrid is how well presented everyone seems to dress, whether they are going to work or not. A lot of what Madrileños wear could be described as chic bohemian. Our mini-survey tells a similar story in different words