Inditex plans to keep opening larger stores while closing the smaller ones

Inditex announce massive store closures and switch to online. Source: unsplash.com

Ecommerce News has found that Inditex, which owns 8 brands including Zara and Pull&Bear, will close up to 1,200 stores. In fact, the fashion retailer wants to have about 6,800 stores, down from 7,412.

Instead, the company has unveiled a digital platform while it wants to further boost its digital transformation.

The Spanish retail group anticipates online sales to account for more than 25% of total sales in 2020, compared to 14% last year.

Meanwhile, CEO announced that Inditex will invest €1 billion in reinforcing its online business. Another €1.7 billion will be used to upgrade the integrated store platform.

We’ve reported that H&M is more likely to soon?launch?Afound in Germany. The outlet is currently only available in two countries, but a third might be on its way. Earlier in 2018, the marketplace for deals started in Sweden and then expanded to the Netherlands one year later.

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