Inditex acquires Zara store premises in London’s Oxford street

london zara

LONDON | Inditex confirmed it has acquired the premises of Zara flagship store at the intersection of Oxford and New Bond streets in London, one of the top fashion retailing destinations worldwide.

The 7,000-square-metre property is home to one of the most emblematic Zara stores in the world. The building has 3,155 square metres of prime retail space and 3,855 square metres of prime office space leased by third parties.

“The investment of £155 million takes advantage of this rare opportunity to buy from the German fund manager Deka such unique premises consolidating I

nditex’s presence in the UK,” the Spanish company said in a press release.

Inditex also noted that, in spite of this decision, its expansion strategy remains focused on opening stores on a leasehold basis. The group has 96 stores in the UK, including a major presence of Zara, Massimo Dutti, Pull&Bear, Bershka and Zara Home retail concepts in London.

The Inditex Group generated net sales in the first quarter of 2012 (1 February to 30 April) of €3.4 billion, 15% higher year-on-year (14% in local currencies). Net income amounted to €432 million, 30% more than in the first quarter of 2011. Inditex opened 91 new stores during the quarter, bringing the total store base to 5,618 at 30 April 2012. The new stores were opened in 26 difference markets.


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The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.