Are Inditex looking to revamp low-cost chain Lefties to compete with Primark?
Spanish clothing giant Inditex is reportedly overhauling the image of its low-cost brand Lefties faced with increasing competition from British budget retailer Primark, which now has 35 stores in the country.
Speculation of a budget brand began in March 2011 when it was announced that Inditex had registered a new brand name, Anxeri, which the Spanish press believed to be a low-cost label to compete with Primark. Due to the difficult economic period in the country, the rebranding of Lefties could prove to be a much more plausible move for the Spanish retailing giant.
Spanish publication Expansión says that sources familiar with the subject have confirmed the brand is attempting to compete with Primark, but Inditex have yet to deny or confirm the rumours, underlining lining that there is no “new low-cost line” on the table.
Launched in 1993, Lefties was originally an outlet chain for out-of-season or damaged Zara stock. Today, the chain has developed its own offering at a more accessible price-point than its sister-brand. Following the growing success of brand Zara, Lefties’ retail network has doubled in size over the past four years.
Financial details from Lefties are not published separately by Inditex and are included with those of Zara.
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