Amancio Ortega, founder of the world's biggest clothing retailer Inditex, has put a majority stake in the firm that owns the Zara fashion chain into a holding company to ensure family control after he dies.
Zara's parent group announced the deployment of a mobile app for payment across all its retail outlets in Spain. Meanwhile, clothes collection containers for recycling will be installed across Spanish stores.
Spanish group Inditex, owner of the Zara fashion chain, expects to trim investment in 2015 after a recovery in its biggest European markets alongside a store and online expansion boosted profit by five percent.
Pablo Isla, the CEO of the Spanish clothing giant, travelled to Beijing to meet with Zhong Shan, China International Trade Rep and Wang Ashun, Mayor of Beijing, to confirm the group's ambitions in the Asian country.