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Inditex

January 12, 2011

Amancia Ortego, the billionaire founder of Spain-based Inditex Group, owner of clothing brand Zara, plans to retire as chairman of the company he started 25 years ago, leading to speculation that his daughter might be the eventual heir apparent.

Amancia Ortego, the billionaire founder of Spain-based Inditex Group, owner of clothing brand Zara, plans to retire as chairman of the company he started 25 years ago, leading to speculation that his daughter might be the eventual heir apparent.

He will be replaced by non-family member Pablo Isla, the current chief executive and chairman, but some insiders reckon that his youngest daughter, Marta Ortego Perez, will eventually take control of Inditex.  

March 19, 2010

Fashion group Inditex, controlled by billionaire Amancio Ortega and his family, gave its most upbeat economic outlook for two years this week as it reported an increase in net income of 5% for 2009.

Fashion group Inditex, controlled by billionaire Amancio Ortega and his family, gave its most upbeat economic outlook for two years this week as it reported an increase in net income of 5% for 2009.

The Spain-based group opened 343 new stores in 2009, 98% of which were outside the domestic market, and reported a net income of €1.3 billion. This increase was particularly prominent in the Asian market where sales accounted for 12.2% of total sales, compared to 2008 where they were 10%. 

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