Mimi ON Oct 17, 2012 AT 10:29 am
A Corua, Spain
CLIMBED 9 spots, to 64
Brand value: $5.165 million
Zara’s focus on fast-tracking new fashions to store shelves has fueled tremendous growth; the thirtysomething-year-old chain now has more than 1,000 stores in 54 countries. Zara’s parent, Inditex, has tripled sales since 2000, with Zara accounting for two-thirds of total revenues. Utilizing a lightning-quick production turnaround Ð as little as two weeks from conception to store delivery Ð Zara introduces 11,000 distinct clothing items annually, compared with an industry average of about 3,000. Now Zara is threatening to overtake long-time fast-fashion king H&M; Inditex reported 21% sales growth in 2005, with $8.15 billion in sales.
Is fast fashion the future in Europe? Could be: A 2004 Bain & Co. study revealed that fast-fashion outlets in Spain and Britain posted an average of double-digit sales growth, vs. only 4% for overall retail sales growth.