The Inditex bandwagon just keeps rolling on

THE Inditex bandwagon just keeps rolling on and 2021 final figures return to pre-pandemic levels with turnover of €27.72 billion, up 35.8 per cent on the previous year.

As Net profit increased by 193 per cent to €3.24 billion, executive chairman, Pablo Isla, said on March 16 that, “after two years of pandemic, this set of results demonstrates the incredible ability to adapt to any circumstances that characterises all the people who work here, borne from their commitment and talent”.

The group’s CEO, Óscar García Maceiras, singled out “the leadership demonstrated by the company on the digital transformation front in recent years, this places us in an unrivalled position to offer an exceptional level of engagement with our quality and sustainable fashion”.

Although the bulk of revenue is still generated instore, online sales reached €7.5 billion, accounting for 25.5 per cent of total sales, reinforcing the company as a global leader in ecommerce.

Despite all of its investments in stock, stores, staff, distribution centres and online development, the Inditex group’s net cash stood at a record €9.3 billion at year-end, having increased by 24 per cent during the year.

The company outperformed its sustainability targets for 2021, specifically for the use of renewable energy – accounting for 91 per cent of total consumption.

It opened 226 stores in 40 markets during the year and on January 31 2022, employed 165,042, up from 144,116 the previous year with more than 80 per cent of the contracts being permanent and there is no gender pay gap with three times more women than men employed.

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