By John Smith • Published: 09 Jul 2020 • 17:42
Zara Mumbai Credit: Inditex
EVERYTHING that Spanish Group Inditex touches seems to turn to gold and profits for Zara in India for the 2020 fiscal year are up 45 per cent to just over €12.25 million which doesn’t seem a lot but the India market is growing dramatically.
It has two trading agreements with Indian company Trent Ltd (part of the massive Tata Group) to run both Zara and Massimo Dutti stores on the sub-continent and owns 51 per cent of each business.
With 22 Zara stores and just three Massimo Dutti then it seems likely that the two companies will look to expand over the coming years.
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Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews
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