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: Guidepost, Natalie McNeal,
Good news for select Spanish corporations! Fourteen Spanish multinational firms have been ranked among the world's most sustainable in the Dow Jones World Sustainability Indixes (DJSI) World Index
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
It never hurts to watch what’s cooking on the catwalk, bike for your life and stomp your feet to flamenco beat! Make sure you join!
Formula One World Champion Fernando Alonso, Latin Kings and the like, Zara zillionaire Amancio Ortega and family
Madrid Fashion Week has come into its own. Here’s the how and why of it