// Spanish retail giant Inditex, which owns Zara, reports rocketing annual sales and profits as it recovers post pandemic
// A quarter of the group’s sales came from online, up from 14% pre-pandemic.
Zara owner Inditex’s net profit more than doubled in 2021 to 3.2 billion euros after its sales almost recovered to post-pandemic levels as restrictions eased globally.
Most of Inditex‘s 6,657 stores worldwide were reopened from mid-2021 and the world’s biggest fashion retailer’s sales reached €27.7 billion, a 36% jump on 2020 and close to pre-pandemic levels.
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However, the Spanish fashion giant, which also owns Bershka, Stradivarius, Massimo Dutti and Pull & Bear, said that new restrictions introduced in countries such as Germany and Japan when the Omicron variant emerged in the fourth quarter led to a negative impact of 400 million euros.
Inditex weathered the health crisis in part by growing its online business. Ecommerce accounted for just over a quarter of total sales over the year. Pre-pandemic, in 2019, online accounted for just 14% of total sales.
The retailer expects to make 30% of sales from digital in 2024.
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