MADRID | The Inditex Group announced this week that it would completely absorb the increase in VAT from 18% to 21% that the Spanish government will carry out as one of its austerity measures to sustain the State's levels of income.
But Inditex said it would not increase the prices of its products. In fact, this counter-price policy will extend to all of the Inditex Group’s chains, from Zara, to Pull&Bear, Massimo Dutti, Bershka, Strad
ivarius, Oysho, Zara Home and Uterqüe.
“With this decision, Inditex maintains its stable pricing policy. Inditex absorbed previous VAT increases, offsetting the impact via efficiencies in various areas of its operations,” the company explained.
And investors believe it.
