EMCC European Monitoring Centre on Change

Zara

Company/Organisation:
Zara

Geographic Location

Country: France

Company

Sector: Retail
Wholesale and retail trade; repair of motor vehicles and motorcycles
46.16 - Agents involved in the sale of textiles, clothing, fur, footwear and leather goods
Group: Inditex

Employment Effects

Announcement Date: 13-12-2006
Type of Restructuring: Business expansion
Employment Effect Start: 01-12-2006
Foreseen End Date: 31-12-2007
Planned Job Creation: 500

Additional Information

Spanish clothing retailer Inditex SA, announced on 13 December 2006 the opening of 25 new stores in France. Inditex, owner of the Zara chain, announced its fiscal nine-month net profit rose 22% follwing the opening of stores and a reduction in costs. France is the second largest market in the world for Zara, with 148 stores employing 3,400 people. As a result of the expansion plans, 500 additional jobs will be created in France between December 2006 and December 2007.