Founded Confecciones GOA, sold quilted bathrobes
Amancio Ortega hailed from a humble background. His father was a railway worker and his mother was a housemaid. In the struggle for success, Amancio relied on his intellect to capitalise on trends and customer patterns, and practiced the art of manufacturing garments with his own hands. His first venture was an association of women with a sewing cooperative at Galicia, and after spending the initial decade in the field under this strategy, he founded a company called Confecciones GOA, S.A. (his initials in reverse). Amancio launched the first apparel store Zorba (also the name of his wife, Rosalía Mera’s favourite movie), but the name had to be changed to Zara as a bar under the name Zorba had already marked its presence. He was quick to grasp the cost fluctuations at various levels of garment distribution and realised the importance of reaching the customers directly at an early stage of his professional life. Zara ran all stages of textile production and gave emphasis to a 48 hour renewal process. An appropriate location setting was also a major determinant which led to the formulation of more than a hundred Zara stores within Spain and its first international store at Portugal. The massive growth of the company gave shape to Inditex (Industria de Diseno Textil S.A.) and was formed as a holding company for Zara and its manufacturing plants. A computerised system to track stocks, accompanied by a lightning turnaround time gradually helped the firm take shape as a giant in the fashion world. At a time when others were focusing on reducing their labour costs, Amancio gave importance to speed and flexibility and hardly advertised his brand. His determination and fast paced progressiveness helped him tread the path of excellence, and emerge as a renowned phenomenon across the globe.
1963
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Founded Confecciones GOA, sold quilted bathrobes
1975
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Opened First Zara store,presence grew over time at a rapid pace
1985
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Industria de Diseno Textil S.A. or Inditex was created as a holding company for Zara and its manufacturing plants
1988
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International expansion with the opening of a Zara store in Portugal
1991
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Inditex retail portfolio development: Pull and Bear
1991
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Massimo Dutti
1998
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Bershka
1999
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Stradivarius
2001
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Oysho
2001
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Initial Public Offering at Bolsa de Madrid
2003
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Created Zara Home to manufacture home textiles
2008
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Inditex Retail Portfolio Development -Uterqüe
2011
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Retired as deputy chairman and CEO
Inditex has 7475 stores, presence in 96 markets, and over 1,62,000 employees.