With Zara soon to open its doors in Australia this year, its owner the Inditex Group has highlighted in its financial net sale results for 2010 that it will be expanding its store network range with 460 to 500 new establishments.
It said it plans to enter new markets including Australia and South Africa, in addition to the e-store launches in the US and Japan.
The Inditex Group reported a 13 per cent net increase in its 2010 fiscal year from 11 million euros from the previous year to 12.5 million euros. Also, the group’s like-for-like sales were up 3 per cent in the same period.
In the Asian region, a total of 160 stores were opened bringing Inditex Group’s retail presence to 645 stores, which accounted for a 15 per cent of total sales.
“Asia saw one of the most rapid rates of expansion,” the company said.
The group now operates in a total of 77 countries.