Saturday, July 24

Inditex approves its 2020 accounts with sales of 20,402 million euros

The General Shareholders’ Meeting of Inditex, meeting today at its headquarters in Arteixo, has approved the results for the 2020 financial year, in which the Group’s sales reached 20,402 million euros, in a financial year in which up to 100% of its stores were closed due to the COVID-19 pandemic. The company’s sales through its global online platform grew 77% at a constant exchange rate, reaching 6,600 million euros, which places Inditex among the world leaders in Internet fashion. All the figures are dizzying but the following summarizes the health of the company: the textile giant made a box of 7,560 million in 2020.

The day that Inditex sold a million garments online while the world came out of confinement

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In his speech to the Board, the Chairman of Inditex, Pablo Isla, highlighted the “strength of Inditex’s strategic transformation with its integrated, digital and sustainable business model”. “As we had anticipated, the transformation that began in 2012 is bearing the expected results,” said Isla.

During the pandemic, the Arteixo-based company promoted its commitment to online sales and the development of direct relationship channels with the consumer, as well as inventory management to accelerate the distribution of its merchandise. In this context, the multinational set a milestone in its markets in May last year, accounting for the sale of one million garments in a single day.

200 million followers

Between 2020, 2021 and 2022, the Group will invest an additional 2,700 million euros in its transformation, of which 1,000 are invested in digitization and 1,700 million in incorporating the latest technologies into the Group’s stores, with the planned opening of up to 450 large flagship stores in the period. In parallel, the constant innovation of digital services is maintained which, like the Store Mode, deepen new formulas for integration with the physical store.

During the year, the Group’s websites and apps received more than 5,300 million visits and the social media profiles of the Group’s eight brands reached 200 million followers.

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