Retail in Asia

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Inditex to invest USD1.27b in 500 new stores worldwide

On the back of strong 2011 results, Spanish clothing retailer Inditex has revealed capital expenditure of around EUR950 million (USD1.27billion 795m) for 2012 as the retailer plans to open about 500 new stores across the globe to take its total past 6,000.

Inditex’s history of aggressive overseas expansion has so far paid off and enabled it to thrive during the continued consumer spending drought in Europe.

The retailer is beginning to gain traction in key BRIC markets such as Russia, where it opened 49 stores in 2011, and China, where 132 shops were opened.

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(Source: Retail Week)