ZARA
16 Pages

ZARA

Course Number: BUAD 311, Fall 2008

College/University: USC

Word Count: 5726

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ZARA On January 15, 2002, Jos Mara Castellano Ros, chief executive officer of the Spanish apparel company Inditex, stepped to the podium at the Jacob Javits Convention Center in New York City to accept the International Retailer of the Year award from the National Retail Federation. The year just closed had been a tumultuous one on the international scene, and for retailers it had been a down year. Retail...

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1 ZARA On January 15, 2002, Jos Mara Castellano Ros, chief executive officer of the Spanish apparel company Inditex, stepped to the podium at the Jacob Javits Convention Center in New York City to accept the International Retailer of the Year award from the National Retail Federation. The year just closed had been a tumultuous one on the international scene, and for retailers it had been a down year. Retail consolidations and bankruptcies were occurring at a fast pace. Yet Inditex and its flagship company Zara had managed yet another year of impressive growth and strong profitability. Indeed, 2001 had in many respects been a landmark year for Inditex, for founder Amancio Ortega Gaona and for Castellano. History of Zara Amancio Ortega Gaona, a native of Galicia, had worked as a clerk at a ladies apparel retailer before starting his own housecoat manufacturing business in 1963. He opened the first Zara store in La Corua in 1975; by 1989, there were 82 Zara stores in Spain, and
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