Zara owner sees profits rise on new store openings

THE owner of the Zara fashion chain has reported a five per cent rise in profits fuelled by hundreds of store openings last year.

Inditex reported a net profit of £1.17bn in the year to 31 January.

The company opened 343 new stores last year which helped to drive sales.

The Spanish firm – which sees 70 per cent of its sales in other countries is aiming to open 425 new shops – this year with its first Indian outlets earmarked for May.

It has a total of 4,607 stores with 91 of those in the UK and is planning to open its first Indian outlets from May.

There are plans to launch an online store, coinciding with the autumn and winter season.