Spain’s Inditex, the world’s largest clothes retailer, showed on Wednesday it can sell to both fashion-hungry shoppers in emerging Asia as well as cash-strapped consumers in Europe, posting a sharp rise in first-quarter earnings.
The owner of Zara and a clutch of other brands including upmarket Massimo Dutti beat forecasts with a 30 percent rise in net profit to EUR432 million (USD543.85m) and sales of EUR3.4b.
Inditex said it would start selling flagship Zara brands online in China in September.
(Source: guardian.co.uk)