The group chaired by Pablo Isla has accelerated its plan to close stores. During the last weeks, Inditex has closed 15 stores in Spain, focusing mainly on the Kiddy’s Class brand, one of the oldest of the company founded by Amancio Ortega. For now, Zara is saved from massive closures, although it has suffered some closure, according to reports Ok Diary.
Inditex’s objective is to focus the closures on the brand dedicated to children’s fashion because they are small-sized establishments and also compete with Zara Kids. The rest of the stores that the company has closed are of young brands. Inditex’s plans are to close between 1,000 and 1,200 small-sized units around the world, although it also plans to open 450 larger stores in the next three years.
The closings of the stores are part of a more complex plan that has an investment of 2,700 million euros (1,000 million for the online strategy and 1,700 for physical establishments). The strategy is to close small stores to open larger ones.
For now, Zara has been saved from massive closures, although the group has carried out a closure. This is the case of the store that the brand has in Jerez de la Frontera (Cádiz). This Thursday, the company informed the staff that it would close this establishment located in the historic center and which has four floors.
In addition, Inditex has already announced that it will also close its stores in Barajas and El Prat airports, as well as in eminently tourist areas such as the port of Barcelona.
For its part, the union of Workers’ Commissions have denounced that the closures are being carried out without prior communication to the works council. “They have conveyed that they want to stay with larger stores where they can bring together more services and the stores that in the future will be affected by the closure may be smaller,” union sources say in statements collected by Ok Diary.
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