Inditex, the mother company of Spanish fast-fashion brand, Zara has made an announcement indicating that about 1,000 and 1,200 retail stores will be closed.
According to Complex, the company’s decision is to take effect within the next two years to make way for it to move to online shopping, to serve its large growing consumers around the world.
Furthermore, Inditex is willing to invest close to $1 billion in the coming years for a strong online presence. CEO of the company, Pablo Isla said, “The overriding goal between now and 2022 is to speed up to the full implementation of our integrated store concept, driven by the notion of being able to offer our customers uninterrupted service no matter where they find themselves, on any device and at any time of the day,” said CEO Pablo Isla in a statement.
Inditex has almost 7,500 stores worldwide in over 96 countries will be, the CEO also added that the company will also invest in integrating stores with online platforms.
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