Inditex, parent of Zara, Massimo Dutti or Bershka, considers that it has not reached the ceiling despite the record results of the financial year 2023. The company founded by Amancio Ortega sells and earns more than ever, and still sees opportunity for growth in markets where the its share is low. The new logistics centers and expansions it is preparing in Spain will provide it with the necessary muscle to face this goal, they explained to the group yesterday.
“Given the important opportunities for future growth, Inditex plans a logistics expansion plan in 2024 and 2025”, emphasized Óscar García Maceiras, CEO of the firm, during the presentation of results in Arteixo (A Coruña). The planned investment for these two years amounts to 1,800 million euros, of which the bulk (1,620 million, 90%) will go to Spain. In Zaragoza, he is planning a new distribution center of 286,000 square meters for Zara, while in the Valencian Community he will build a complex of 116,000 square meters for Bershka. In addition, it will increase capacity in the center of Tempe, also in the Valencian Community, dedicated to footwear. In this way, it will go from twelve logistics platforms in Spain, including those in Tordera, in Catalonia, to fourteen. Already outside the country, it will add 123,000 square meters to its Lelystad (Netherlands) facility. The new centers are expected to start operating in the second half of 2025.
All this to accompany the growth they foresee after a historic year. The holding has earned almost 15 million a day in 2023. The group has again improved profits and sales in another record financial year, which has led it to shoot up the dividend by 28%, at the rate of 1.54 euros l action Amancio Ortega, founder of the company and main shareholder, will pocket 2,845 million for this concept. In the remuneration chapter, Óscar García Maceiras, CEO, earned 10.3 million euros in 2023, 23% more than a year earlier, while Marta Ortega, non-executive chairman, received one million euros. All Council members received a payment of 13.46 million euros.
Sales advanced by 10.4% year-on-year, up to 35,947 million euros, while profit stood at 5,381 million, 30% more than the previous year. The group has also reached highs on the stock market this year, with a capitalization of more than 138,000 million euros. The company’s shares were up more than 7% at the close of Wednesday’s session.
The increase in market share, the improvement of the gross margin and the strategy to raise the position of the company, with a mix of higher value products that have increased the average price of the your articles In recent years, the group chaired by Marta Ortega has opted to launch capsule collections of the best quality and collaborations with renowned designers.
Inditex opened stores in 41 markets in 2023, a year in which Zara opened its first store in Cambodia. In total, the group carried out 192 openings, 231 reforms including 84 extensions, and 315 absorptions. One of the markets he is focusing on is the United States, where he will redouble his efforts and reopen a Massimo Dutti store at the end of the year in Miami. It will be the second brand with physical commerce in the North American country, where there are already more than 99 Zara establishments, the highest number per market only behind Spain.
By brand, Zara remains the flagship, with 72.4% of global revenue (it consolidates Lefties and Zara Home revenue in itself), although all formats are improving. By market, Spain accounted for 14.8% of all sales, four tenths more than in 2022 (5,660 million euros, 12.8% more). The company employs 47,761 people in the country.
