Industria de Diseño Textil, more commonly known as Inditex, is one of the largest clothing companies in the world. In fact, according to a 2023 ranking, Inditex had the fourth
and clothing accessories company worldwide. The company’s most famous brand is Zara, but it owns many other well-known high-street brands, such as Bershka and Pull&Bear, with
. The fast fashion company operates on a quick turnover of stock, with styles moving quickly from design to the shop floor.
Fast Fashion
The fast fashion industry has faced criticism for its effect on the environment and working conditions in the supply chain, as a high volume of stock needs to be manufactured, often using harmful, synthetic materials. These products are then shipped all over the world.
Leading European fashion companies produce a significant volume of greenhouse gas emissions. They also have extensive
networks of factories that produce their garments. For Inditex, these factories are mainly located in China, but there are more than 100 factories in all of Morocco, Turkey, Bangladesh, Spain, India, and Portugal.
Inditex sales
Inditex made sales of approximately 36 billion euros in the financial year 2023. This was an increase of almost 3.5 billion euros compared to the previous year. With the exception of 2020, sales have consistently increased year-on-year. Most of
Inditex’s sales come from Europe, where revenues were around double that of the rest of the world combined in 2023. The brand
Zara was responsible for more than 70 percent of the company’s worldwide sales.
H&M rivalry
Another significant player in the fast fashion world is the Swedish company, H&M.
H&M Group generated
236 billion Swedish kronor dollars in sales in their 2023 financial year, which at the time of year-end was equal to roughly 20.8 billion euros. Zara and H&M have battled for the title of greatest
brand value in recent years, with Zara coming out on top in 2023, with a brand value of approximately 16.5 billion U.S. dollars.
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