Zara announces record profit in 2012

The Spaniard Amancio Ortega, owner of the Inditex Group, owner of the Zara chain, was elected by Forbes ranking as the third richest man in the world.
In a country with high unemployment and with many companies in delicate situation, the richest man in Spain is a rare amid a corporate culture dominated by family dynasties.
Ortega has surpassed the u.s. Investor Warren Buffett and the luxury group Chairman Bernard Arnault of France. Ahead of Ortega Mexican telecommunications is Carlos Slim the number 1, followed by Bill Gates, co-founder of Microsoft.
The estimated net value of fast fashion Ortega is $ 57 billion. Its business model is built on a formula of endless renovation, with dresses and blouses displayed in thousands of shops Zara around the world for only a few days before being taken taken from hangers and mannequins and replaced by an even newer line of clothing.
Jás customers know they have to buy the clothes quickly, because the models are not available for a long time. The overall strategy also encourages consumers to return frequently to see new product ranges and trends.
Inditex has a model management and aggressive action on the market, with more than 6 thousand stores in 90 countries. Besides the brand Zara that is the flagship of Ortega, the group maintains the Zara Home, Massimo Dutti and others. The fashion retailer is the world's largest, ahead of Gap and Hennes Mauritz &, 840 million making clothes per year.
Ortega's Empire is a business with cash on hand, with a market capitalization of $ 84 billion, which is thriving amid deep economic gloom that is engulfing their country of origin. The company's shares have risen 67% last year, despite a fall in consumer spending in Spain.
Ortega, a stocky 76-year-old man, who likes to wear blue blazer, white shirts and casual pants, took home last year $ 859 million as income of 59% of Inditex which owns. Averse to interviews, he rarely appears in public and maintains discretion over its lifetime.
He also challenged the darkness and lack of perspective in which Europe lives through smart purchasing and administration of real estate. Your marketing strategy is smart: Zara stores are often placed in premium locations, close to other luxury brands.
Inditex says that doesn't make propaganda, and with celebrities such as Kate Middleton – wife of Prince William of Britain-wearing clothes Zara, she doesn't even need to do.
Apparently, the company's strategy is working. In 2012, the company registered a record profit of $ 3 billion, a growth of 22%, thanks to its expansion, particularly in Asia. The turnover also rose, 16%, to $ 2.5 billion and Ebitda advanced 20%, to $ 5.04 billion, in fiscal year 2012, ended on 31 January.
Despite the good result, the figures were below market expectations and show a slowdown in the fourth quarter: in the first nine months of the year, Inditex grew 27% of net income, 25% of EBITDA and 17% of turnover.
The Group continued in 2012 with the policy of expansion, with 482 new stores, with 121 in China. The company claims to have created 10,802 new jobs. Inditex handily outperforms the main competitor, the Swedish Hennes Mauritz & (H&M), which registered in 2012 a net profit of $ 2.5 billion, up 6.6%.