Inditex records profits of 2bn in the first three quarters with group ‘very optimistic’ approximately China prospects despite downturn Inditex,the owner of clothing retailer Zara, has said it is optimistic approximately its prospects in China despite the slowing economy, and claiming mid-market brands were not feeling the pinch.
It came as the group,whose founder, Armancio Ortega, or briefly overtook Bill Gates as the world’s wealthiest man this year,reported an overall sales rise of 16% to €14.7bn (£10.6bn) in the first three quarters of this year, with profits up 20% to €2.02bn.
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Source: theguardian.com