Latest news with #OscarGarciaMaceiras
Time of India
16-07-2025
- Business
- Time of India
Inditex to reopen budget brand Lefties in France as it takes on Shein
Zara-owner Inditex plans to expand its budget brand Lefties to France, the fashion giant's CEO told investors on Tuesday, as it tries to attract more young consumers and steps up competition against Shein and other low-cost rivals. The planned opening marks Lefties' return to France, having initially launched there in 2009 before shutting both its French stores by 2012. Established 25 years ago and named for its beginnings as an outlet selling Zara 's leftovers, Lefties has stores in 18 countries and has grown as Inditex competes against online-only retailers like Shein that sell at rock-bottom prices. In May, Lefties unveiled a new, all-caps logo in an Instagram post along with its "Lefties everywhere, on everyone" slogan. The brand is currently mostly focused on Spain and Portugal, but last month Inditex CEO Oscar Garcia Maceiras said Inditex is "testing Lefties in new markets". The brand's dresses are priced at as little as 9.9 euros ($11.55) and jeans at 12.99 euros, comparable to Shein and Primark, and providing a cheaper alternative to Zara - which has increased its prices in recent years. Inditex is also expanding its other brands, Garcia Maceiras told the group's annual shareholder meeting on Tuesday. Bershka is opening its first stores in Denmark; Stradivarius in Austria; Oysho in the Netherlands; and Massimo Dutti in Brazil, while the Zara Man label is launching in the United States with a store in Costa Mesa, Los Angeles, he said.
Reuters
15-07-2025
- Business
- Reuters
Inditex to reopen budget brand Lefties in France as it takes on Shein
July 15 (Reuters) - Zara-owner Inditex ( opens new tab plans to expand its budget brand Lefties to France, the fashion giant's CEO told investors on Tuesday, as it tries to attract more young consumers and steps up competition against Shein and other low-cost rivals. The planned opening marks Lefties' return to France, having initially launched there in 2009 before shutting both its French stores by 2012. Established 25 years ago and named for its beginnings as an outlet selling Zara's leftovers, Lefties has stores in 18 countries and has grown as Inditex competes against online-only retailers like Shein that sell at rock-bottom prices. In May, Lefties unveiled a new, all-caps logo in an Instagram post along with its "Lefties everywhere, on everyone" slogan. The brand is currently mostly focused on Spain and Portugal, but last month Inditex CEO Oscar Garcia Maceiras said Inditex is "testing Lefties in new markets". The brand's dresses are priced at as little as 9.9 euros ($11.55) and jeans at 12.99 euros, comparable to Shein and Primark, and providing a cheaper alternative to Zara - which has increased its prices in recent years. Inditex is also expanding its other brands, Garcia Maceiras told the group's annual shareholder meeting on Tuesday. Bershka is opening its first stores in Denmark; Stradivarius in Austria; Oysho in the Netherlands; and Massimo Dutti in Brazil, while the Zara Man label is launching in the United States with a store in Costa Mesa, Los Angeles, he said. The store openings, including Lefties in France, will take place this year and next, an Inditex spokesperson said. ($1 = 0.8568 euros)
CNA
15-07-2025
- Business
- CNA
Inditex to reopen budget brand Lefties in France as it takes on Shein
Zara-owner Inditex plans to expand its budget brand Lefties to France, the fashion giant's CEO told investors on Tuesday, as it tries to attract more young consumers and steps up competition against Shein and other low-cost rivals. The planned opening marks Lefties' return to France, having initially launched there in 2009 before shutting both its French stores by 2012. Established 25 years ago and named for its beginnings as an outlet selling Zara's leftovers, Lefties has stores in 18 countries and has grown as Inditex competes against online-only retailers like Shein that sell at rock-bottom prices. In May, Lefties unveiled a new, all-caps logo in an Instagram post along with its "Lefties everywhere, on everyone" slogan. The brand is currently mostly focused on Spain and Portugal, but last month Inditex CEO Oscar Garcia Maceiras said Inditex is "testing Lefties in new markets". The brand's dresses are priced at as little as 9.9 euros ($11.55) and jeans at 12.99 euros, comparable to Shein and Primark, and providing a cheaper alternative to Zara - which has increased its prices in recent years. Inditex is also expanding its other brands, Garcia Maceiras told the group's annual shareholder meeting on Tuesday. Bershka is opening its first stores in Denmark; Stradivarius in Austria; Oysho in the Netherlands; and Massimo Dutti in Brazil, while the Zara Man label is launching in the United States with a store in Costa Mesa, Los Angeles, he said. The store openings, including Lefties in France, will take place this year and next, an Inditex spokesperson said. ($1 = 0.8568 euros)
BBC News
08-05-2025
- Business
- BBC News
Zara: Inside the secretive world of the fashion brand
It's going to be a very sexy summer, a touch of romantic, cowboy and rock and according to Mehdi Sousanne, at least. And he should know. He's a designer for Zara who helps create the clothes for a brand that's one of the most successful stories in High Street is owned by Inditex, the world's biggest fashion retailer, which runs a string of store chains including Massimo Dutti and Pull & relies on 1,800 suppliers across the world, but nearly all the clothes are brought to Spain where the company is based, to be despatched to stores in 97 doesn't advertise and rarely gives interviews. But as it marks 50 years since the opening of its first store, I've come to its vast campus in Galicia to meet the boss and workers for a rare glimpse into how the secretive brand a time when the company finds itself having to navigate fast-changing markets, with growing competition from ultra-cheap online players Shein and Temu, who ship their goods direct from China, as well as uncertainty surrounding US Oscar Garcia Maceiras, Inditex's CEO, says US President Donald Trump's tariffs won't disrupt its supply chains or change Zara's plans to expand further in the US, now its second biggest market."Bear in mind that for us, diversification is key. We are producing in almost 50 different markets with non-exclusive suppliers so we are more than used to adapt ourselves to change," he tells me. The business has certainly adapted and grown since its first store opened a short drive away in the town of A now has 350 designers, with the staff coming from some 40 different countries."There are no rules in general. It's all about feelings," says Mehdi, who works on delivering the key pieces for the says inspiration can come from anyone ranging from the "street" to the cinema as well as the catwalks. He likes to sketch his ideas once an all-important mood board has been the pattern cutting room, the designs are turned into paper samples, and are pinned on to mannequins. Dozens of seamstresses then run up the first fabric samples on the spot for a first fitting. Pattern maker Mar Marcote has been with the business 42 years and still uses a magnifying glass to examine each item of clothing before it finally goes into production. "When you finish the item and see that it looks good, and then sometimes sells out, it's marvellous," she says. Zara is a business that has changed the way we the old days, retailers released just two main collections a year, Spring/Summer and Autumn/Winter. For decades, most chains have outsourced manufacturing to lower-cost factories in the far east with the clothes arriving up to six months went against conventional wisdom by sourcing a lot of its clothes closer to home and changing products much more frequently. That meant it could respond much faster to the latest trends and drop new items into stores every over half of its clothes are made in Spain, Portugal, Morocco and Turkey. There's a factory doing small production runs on site at HQ, with another seven nearby, which it also owns. As a result, it can turn around products in a matter of weeks. More basic fashion staples are produced with longer lead times in countries like Vietnam and and data are other factors behind its success. Every piece of clothing is packaged and despatched from its distribution centres in Spain, as well as one in the Netherlands."What is absolutely critical is the level of accuracy," says CEO Mr Maceiras."It's something that allows us to make the right decision in the last possible minute, in order to assess properly the appetite from our customers, in order to adapt our fashion proposition to the profile of our customers in different locations."In other words, getting the right products to the right HQ, product managers then receive real-time data on how clothes are selling in stores worldwide, and – crucially – feedback from customers, which is then shared with designers and buyers, who can adjust the ranges along the season according to some other High Street rivals, it only discounts when it stages its twice-yearly sales. But is Zara starting to lose its shine after posting slower sales growth at the start of this year?"The key challenge for Inditex is continuing to be relevant in a fashion world that continues to get faster and cheaper," says William Woods, European retail analyst for Bernstein. Not only are mainstream rivals like H&M, Mango and Uniqlo trying to catch up, the market has been disrupted by Shein and racked up $38bn in global sales last year, just a whisker behind how much of a threat Shein and Temu's success poses to Zara, Mr Maceiras stresses that its business model doesn't rely on price."Of course, we are looking at providing our customers our products at an affordable price. But for us, it's critical to provide customers fashion that should be inspirational, with quality, creativity and sustainable." Zara has come a long way since its founder Amancio Ortega started the business. The company is still majority-owned by his family and his daughter Marta is now chairwoman of the aged 89, Mr Ortega remains famously reclusive but still pops in, according to Mr Maceiras."He's a presence, a physical or moral presence, absolutely every day."
Yahoo
12-03-2025
- Business
- Yahoo
Shares in Zara owner Inditex sink despite record profit
Zara owner Inditex posted Wednesday another record annual profit but investor worries that sweeping US tariffs could hurt its growth prospects caused shares in the world's biggest fashion retailer to slide. The Spanish group, which owns other top brands including Massimo Dutti, Pull & Bear and Bershka, posted a net profit of 5.87 billion euros ($6.39 billion) in the fiscal year which ended on January 31. The figure was up 9.0 percent from 5.38 billion euros in 2023 and marked the company's third consecutive annual profit. Inditex pointed to "very satisfactory" sales, which rose 7.5 percent to hit 38.6 billion euros in 2024, and its "rigorous" cost control policy for the profit rise. The company is "optimistic" about its growth opportunities "despite a particularly complex and demanding environment", chief executive Oscar Garcia Maceiras told a press conference. But sales growth showed signs of waning in the first quarter, rising just 4.0 percent between February 1 and March 10, compared to 11-percent growth in the same period a year ago. This was the lowest pace of sales growth for the period since 2016, UBS analysts said in a research note. The slowdown comes as Inditex is facing stiffer competition from low-priced Asian online retailers such as Shein, as well as the threat of higher tariffs in the United States, the company's second-largest market after Spain. These tariffs "represent a challenge for Inditex, both in its strategy of expansion in the United States and in the management of its global supply chain" since its clothes are partially made in China, said Alfred Vernis, professor at Spain's ESADE business school and a former Inditex executive. - 'Growth is slowing' - Shares in Inditex fell by 8.2 percent in early afternoon trade on the Spanish stock exchange to 44.66 euros per share. While Inditex "has been a clear outperformer in clothing retail", the data suggests "growth is slowing", Deutsche Bank said in a research note. "The potential risks of US tariffs are also weighing on Inditex sentiment," it added. Maceiras said Inditex was "well positioned" in the trade war and stressed its "great flexibility to adapt to circumstances". "We have enormous diversification in terms of manufacturing origins," he said, adding Inditex did not rule out producing some of its clothing in the United States if "opportunities" arose. With fast-growing budget fashion retailer Shein taking share at the cheaper end of the market, Inditex's main brand Zara has moved to attract more discerning shoppers and offered more expensive clothing. Inditex is also improving its logistics to deliver online orders faster than rivals and investing in larger, more modern stores while it shuts smaller shops. "Compared to its rivals such as H&M and Uniqlo, Inditex benefits from better cost control, higher margins and a stronger financial cushion, which guarantees long-term growth and stability in the dynamic fashion market," said Vernis. The company's fundamentals remain "solid" and it should be able to "strengthen its leading position" in the budget fashion segment despite the trade tensions, he added. Inditex's main rival in the fast-fashion industry, Sweden's H&M, in January posted lower sales for 2024 due to supply problems and greater competition from Chinese online companies. vab/ds/imm/rl Sign in to access your portfolio
