The fashion retail giant has been heavily impacted by the Coronavirus pandemic, but remains committed to their recovery and a digital approach.
The group, which owns brands such as Zara, Pull & Bear, Bersha, Uterque and Astradivarius, generated net sales of €20.4bn in FY2020 which ran from 1 February 2020 to 31 January 2021. Meanwhile gross profit fell to €11.4bn from €15.8bn and the gross margin dropped 6bpd to 55.8 per cent.
During the year, Inditex launched its online sales platform in 25 new markets and opened new stores in 29. The Group’s eight retail brands are now available online in 216 markets around the world, 91 of which offer the integrated store and online shopping experience.
Inditex’s Executive Chairman, Pablo Isla, commented on the results: “Inditex has emerged stronger after such a challenging year thanks to the amazing commitment displayed by everyone here at the company. Inditex as a company is strong today that it was two years ago, with a unique business model and a global, flexible, digitally integrated and sustainable sales platform, which places us in an excellent position for the future.”
