Zara to open its largest flagship in the world in Madrid
Zara is gearing up to open on 7 April its new flagship store in Madrid, which will become the brand’s largest in the world by size.
Located at 79 Paseo de la Castellana in Madrid - one of the city’s main roads - the store will be located in the heart of Madrid’s historic and financial centre. The store’s floor space will total more than 6,000 sq mts – more than its megastore in Serrano which has five floors covering 2,415 sq mts, confirmed Inditex’ CEO and Chairman Pablo Isla on Wednesday.
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.
The group created more than 9,596 jobs worldwide in 2016, with Spain accounting for a fourth of the total. Zara Spain has 1,797 stores and employs 162,450 people, as of December 2016.
In the year to 31 January 2017, Inditex recorded net profit of 3.15 billion euros, representing a 10% increase over the previous year. Group sales amounted to 23.3 billion, up 12%, while EBITDA was 5.08 billion, compared with 4.69 billion a year before.
(Elena Campos and Europa Press)
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