The Spanish group behind the fashion chain Zara showed today it is possible to make money on the UK high street even as rivals flounder.
Zara, which has 65 stores in the UK and is closing in on a fifth shop on Oxford Street, is part of the giant Inditex fashion group, shares in which have tripled in the past five years.
The parent company grew its profits by nearly a quarter last year, following an explosive opening programme globally.
Inditex, which also owns the Pull & Bear, Massimo Dutti and Bershka chains, has also got its new financial year off to a strong start, with sales by up by 12% since February.
The world’s biggest fashion group grew its profits by 22% to €2.3 billion (£2 billion) over the year to January 31, on bulging revenues of €15.9 billion. Its sales at stores open at least a year rose by 6%.
Inditex opened 482 stores last year to take its total beyond 6000 in 86 countries.
