Inditex acquired Spanish supplier Indiput
Inditex has acquired a 100 % stake in main Spanish supplier Indiput, where it held a 51 % interest since 1997. Indiput, a long-standing supplier of Inditex, has benefited from the group’s support and from the impact which the corporation has had on local textile-related businesses.
Inditex has been following a strategy of integrating its partners on the product manufacturing side. Altogether Inditex collaborates with 7500 suppliers in Spain. About 59 % of its product sourcing comes from the Mediterranean region (Spain, Portugal, Turkey and Morocco), and it works with suppliers and manufacturers from 53 different countries.
Inditex saw net profit jump ten per cent last year. Inditex is the world’s largest fashion retailer by sales and seeks to have full integration of the brick-and-mortar stores and online businesses.
Among the brands run by Inditex are Pull & Bear, Bershka, and Zara. For all of 2016, Inditex reported a rise in sales at all of its eight brands. Zara alone was responsible for 66 % of total sales. Inditex plans to open between 450 and 500 new stores in 2017 while absorbing 150 to 200 smaller ones. In 2016, it opened a net 279 stores, bringing its total to nearly 7300.