Inditex has a chance to exact revenge on its online rivals. Despite a painful pandemic, the 64 billion euro fast-fashion retailer has amassed a war chest of more than 9 billion euros. Typically such spoils will trickle back to shareholders. For 38-year-old Chair Marta Ortega, buying an ailing online foe like 9 billion euro Zalando might make more sense.
Zara's logo is displayed on a window, at one of the company's largest stores in the world, in Madrid, Spain, April 7, 2022. REUTERS/Juan Medina/File Photohas a chance to exact revenge on its online rivals. Despite a painful pandemic, the 64 billion euro fast-fashion retailer has amassed a war chest of more than 9 billion euros. Typically such spoils will trickle back to shareholders.
Hoarding cash is part of Inditex’s crisis-management playbook. The company relies on its surprisingly plump balance sheet to spruce up supply chains, revamp tired stores and open new ones. Excess funds are doled out sparingly to investors via special dividends.Ortega has reason to be more daring.
A swoop would still be an about-turn. To date, Inditex’s strategy for growth has been organic, steadily opening new stores in established markets like the United States. A sudden burst of inflation has given its young boss a reason to take a calculated risk.- The chief executive of UK retailer Next said on May 5 that he was concerned that discretionary spending on clothing and homeware could be hit as a result of inflation.
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