Inditex, the world's biggest clothing retailer, is spending billions on its online operations and premium stores from Barcelona to Beijing despite steep losses caused by the coronavirus pandemic.
and Massimo Dutti said in a statement Wednesday that it will invest €2.7 billion over three years to develop a"fully integrated store and online model."
"Stores will play a stronger role in the development of online sales due to their digitalization and capacity to reach customers from the best locations worldwide," Inditex said, adding that customers would benefit from larger and"more attractive stores." In a presentation on its website, Inditex listed Barcelona, Edinburgh, Riyadh, Beijing and Bogotá as locations for some of these"highly prominent, differentiated stores.
As many as 25,000 brick-and-mortar retail stores in the United States are expected to permanently close this year, according to a report released Tuesday byInditex said it expects online sales to reach more than 25% of total sales by 2022, up from 14% in 2019. The company said it will invest in its existing technology platform to make it more agile and data-driven.
"Being able to offer the flavor of the month faster than peers means Zara — which accounts for the majority of sales — has become a go-to shop. That helps support more premium price tags," she added.
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