Spanish clothing and accessories retailer Zara has decided to open its new flagship store in Madrid. The store, spread in more than 6,000 sq. mts., will be inaugurated in April. The new store will come up at 79 Paseo de la Castellana in Madrid, one of the longest and widest avenues in the region. This has been confirmed by Inditex’ CEO and Chairman Pablo Isla.
In addition to the store in Madrid, Zara is set to reopen over the coming months further stores on Place de L’Opera Street in Paris and at Stratford White City in London.
In the financial outlook for current fiscal, Inditex plans to continue to expand its integrated store and online model globally. Zara’s online store will also go live in Thailand and Vietnam in the coming weeks, while its launch in India is scheduled for the second half of the year.
The company’s net sales in 2016 jumped 12 per cent to Euro 23.3 billion compared to Euro 20.9 billion in the corresponding period in 2015.