Examine individual changes

'{{Infobox company | name = Industria de Diseño Textil, S.A. | logo = [[Image:Inditex.svg|250px]] | type = [[S.A. (corporation)|Sociedad Anónima]] | traded_as = {{BMAD|ES0148396007|ITX}} | predecessor = {{unbulleted list|Confecciones GOA, S.A.|GOASAM, S.A.}} | foundation = [[Arteixo]], [[Spain]] ({{Start date|1985|06|12}}) | founder = [[Amancio Ortega]]<br />[[Rosalía Mera]] | location_city = [[A Coruna]] | location_country = [[Spain]] <ref>https://www.inditex.com/en/our_group/facilities</ref> | locations = 6683 stores (January 31, 2015) | area_served = Global | key_people = [[Pablo Isla]] <small>([[Chairman]] and [[chief executive officer|CEO]])</small><br>Ignacio Fernández <small>([[chief financial officer|CFO]])</small> | industry = [[Retailing]] | products = [[Apparel]]/[[footwear]] specialty, other specialty | revenue = [[Euro|€]]16.72 billion (2013)<ref name="AR2013">{{cite web |url=http://www.inditex.com/documents/10279/18789/Inditex_Group_Annual_Report_2013.pdf/88b623b8-b6b0-4d38-b45e-45822932ff72|title=Annual Report 2013 |format=pdf |accessdate=18 December 2014 |publisher=Inditex}}</ref> | operating_income = €3.070 billion (2013)<ref name="AR2013" /> | net_income = €521 million euros(2015, 1Q)<ref>{{cite web|url=https://fashionunited.uk/news/business/euro-s-depreciation-suits-inditex-well-in-the-first-quarter/2015061116706|first=Angela|last=Gonzalez-Rodriguez|date=June 11, 2015|accessdate=July 1, 2015|work=[[FashionUnited]]|title=Euro's depreciation suits Inditex well in the first quarter}}</ref> | net_sales = €16.724 billion (2013)<ref name="AR2013" /> | assets = €13.756 billion (2013)<ref name="AR2013" /> | equity = €9.278 billion (2013)<ref name="AR2013" /> | num_employees = 140,000(2015) <ref>http://www.inditex.com/en/our_group/at_glance</ref> | divisions = | subsid = [[Zara (clothing)|Zara]], [[Pull & Bear]], [[Bershka]], [[Massimo Dutti]], [[Stradivarius (Inditex)|Stradivarius]], [[Oysho]], [[Zara Home]], [[Uterqüe]], Tempe | homepage = {{URL|http://www.inditex.com}} | intl = yes |ISIN = ES0148396007}} '''Industria de Diseño Textil, S.A. (Inditex)''' ({{IPAc-en|ˌ|ɪ|n|d|ɪ|ˈ|t|ɛ|k|s}}, {{IPA-es|indiˈteks|lang}}; Textile Design Industries) is a [[Spain|Spanish]] [[Multinational corporation|multinational]] clothing company headquartered in [[Arteixo]], [[Galicia (Spain)|Galicia]]. It is made up of almost a hundred companies dealing in activities related to [[textile]] design, production, and distribution. [[Amancio Ortega Gaona|Amancio Ortega]], [[Spain]]'s richest man, and currently the world's fourth richest man,<ref>{{Cite web|title = The Forbes World's Billionaires list is the definitive list of the world's wealthiest people, profiling and ranking billionaires from 70 countries by their estimated net worth.|url = http://www.forbes.com/billionaires/list/#version:static|website = Forbes|accessdate = 2015-12-02}}</ref> is the founder and current largest shareholder. The current chairman of Inditex is Pablo Isla. The company is a component of the [[Euro Stoxx 50]] [[stock market index]].<ref>[http://www.boerse-frankfurt.de/en/equities/indices/euro+stoxx+50+EU0009658145/constituents Frankfurt Stock Exchange]</ref> Inditex, the biggest fashion group in the world, operates over 6,600 stores worldwide<ref name="corpsite">{{cite news|url=http://www.inditex.com/en/our_group|title=Grupo INDITEX - Our group|publisher=Inditex|accessdate=2015-02-28}}</ref> and owns brands like [[Massimo Dutti]], [[Bershka]], [[Oysho]], [[Pull and Bear]], [[Stradivarius (Inditex)|Stradivarius]], [[Zara (retailer)|Zara]], [[Tempe (Inditex)|Tempe]], and [[Uterqüe]], and also a low-cost brand Lefties. The majority of its stores are corporate-owned; [[Franchising|franchise]]s are only conceded in countries where corporate properties can not be foreign-owned (in some Middle Eastern countries, for example). The group designs and manufactures almost everything by itself, and new designs are dispatched twice a week to Zara stores. Most of the company's manufacturing is done in countries with low labour costs, mainly in [[Bangladesh]], India, Morocco, China and Turkey, although some production continues in Spain, [[Brazil]] and [[Portugal]], particularly for its Zara brand. In addition, Inditex has a factory for shoe design, production and distribution in the town of [[Elche]], on the Spanish Mediterranean coast. ==History== {{Original research|section|date=July 2014}}The company started by introducing a new concept of fashion design: instead of long-lasting pieces of clothing, they offered a great variety at affordable prices. In the beginning, Zara became famous by offering clothing at low prices and then slowly worked its way up to match the quality of today's best brands. The group started its activity in 1963 as a dress maker, but it wasn't until 1975 that Zara shop opened its doors in [[A Coruña]] ([[Galicia (Spain)|Galicia]], [[Spain]]), the city which saw the group's early beginnings and which is now home to its central offices. The international expansion of the group began in 1988, with Inditex opening its first foreign store in [[Oporto]], Portugal. Today, Inditex's stores can be seen in places like [[New York]]'s [[Fifth Avenue]], [[Milan]]'s [[Piazza del Duomo, Milan|Piazza Duomo]], [[London]]'s [[Regent Street]] and [[Oxford Street]], [[Frankfurt]]'s Zeil, Shanghai's Nanjing West Road, [[Tokyo]]'s [[Shibuya, Tokyo|Shibuya]], [[Istanbul]]'s [[Nişantaşı]], [[Seoul]]'s [[Myeong-dong]], and [[Vienna]]'s [[Kärntner Straße]]. In the 1990s, Inditex began creating or acquiring subsidiaries to manage different collections: [[Bershka]], [[Pull and Bear]], [[Massimo Dutti]], and [[Stradivarius]]. In May 2001, Inditex turned into a [[Public company|publicly traded company]], being valued at US$8 billion (€9 billion at the time).<ref>[http://www.forbes.com/global/2001/0528/024_print.html Inside Zara] Forbes Global</ref> Inditex won the 2006 [[Wharton Infosys Business Transformation Award]] for their innovative and successful implementation of information technology to drastically decrease the time it takes to get new merchandise from the design stage to the in-store stage.{{Citation needed|date=July 2014}} In 2008, Inditex launched [[Uterqüe]], the new accessories brand of the company. Three inaugural flagship stores were opened in [[Madrid]] (Calle Serrano), [[Barcelona]] (Passeig de Gràcia) and [[A Coruña]]. On 22 September 2008, Inditex opened its 4,000th store in the [[Ginza]] in [[Tokyo]], considered one of the most important shopping areas in the world.{{Citation needed|date=July 2014}} In 2010, Zara had sales of €12.5 billion, with only twice a year newspaper advertisements.<ref name="Luxury">{{cite book | title=Luxury Brand Management | publisher=John Wiley & Sons | author=Chevalier, Michel | year=2012 | location=Singapore | isbn=978-1-118-17176-9}}</ref> On 20 April 2011, the first Zara store opened in Australia. Thus, the Inditex group was present for the first time on five continents, and in 86 countries. After the [[2013 Savar building collapse]], Inditex was one of the thirty-eight companies who signed the [[Accord on Factory and Building Safety in Bangladesh]]. In 2015 Inditex bought commercial properties in Soho, [[New York City]] for over $280 million. They plan to open Zara and other stores on Broadway.{{citation needed|date=August 2015}} In the first quarter of its fiscal year 2015, Inditex recorded an attributable profit of 521 million euros, which represents an increase of 28 percent over the same period last year in 2014.<ref>{{cite web|url=https://fashionunited.uk/news/business/euro-s-depreciation-suits-inditex-well-in-the-first-quarter/2015061116706|first=Angela|last=Gonzalez-Rodriguez|date=June 11, 2015|accessdate=June 18, 2015|work=[[FashionUnited]]|title=Euro's depreciation suits Inditex well in the first quarter}}</ref> ==Subsidiaries== [[File:Map of Inditex global markets.svg|270px|thumb|right|Inditex Global Presence]] * [[Zara (retailer)|Zara]] - Flagship brand.<ref name="Luxury"/> It encompasses many different styles, from daily clothes, more informal, to the more serious or formal, through dresses and suits for festival events. Fashion for women, men and children. * [[Zara Kids]] - Kids Clothing from 0 to 14 years old. * [[Pull and Bear]] - This brand focuses on casual, laid-back clothing and accessories for young people with a very urban style, at accessible prices. * [[Bershka]] - Starting in 1998, this store began distributing fashion for girls, and, more recently, for boys too. It also has a youthful style, although not as urban as Pull & Bear. * [[Massimo Dutti]] - The highlights of this chain are more elegant, classic, and studied designs, for daily and formal clothes. It is more expensive than the rest of stores of the group. It offers fashion for women, men and, recently, for children. * [[Stradivarius (Inditex)|Stradivarius]] – This brand has an innovative concept in fashion,{{Citation needed|date=February 2011}} targeting young women with clothing garments and accessories. * [[Oysho]] - Women's homewear and undergarments. * [[Zara Home]] - Domestic merchandise * [[Uterqüe]] - Accessories and garments * [[Tempe (Inditex)|Tempe]] - Footwear {| class="wikitable" |- !Company !No. of shops 31/10/2015 !Year of creation |- |[[Zara (retailer)|Zara]] |2143 |1975 |- |[[Bershka]] |1032 |1998 |- |[[Stradivarius (Inditex)|Stradivarius]] |937 |1999 (acquired) |- |[[Pull and Bear]] |922 |1991 |- |[[Massimo Dutti]] |729 |1995 (acquired) |- |[[Oysho]] |598 |2001 |- |[[Zara Home]] |481 |2003 |- |[[Uterqüe]] |71 |2008 |- |TOTAL |6913 | |} ==Corporate Governance== ===Board of Directors=== '''Bold''' indicates a company shareholder and the representative will be listed below. {| class= "wikitable sortable" ! Member ! Title(s) ! Member Since ! class= "unsortable"|Shares Held ! class= "unsortable"|Notes |- | [[Pablo Isla|Mr. Pablo Isla]] | Chairman & CEO of Inditex <br /> Board Member of Telefonica, S.A. | June 2005 | 1,805,302 | rowspan = "9" | <ref>https://www.inditex.com/our_group/board_members</ref> |- | Mr. Jose Arnau Sierra | Deputy Chariman of Inditex <br> First Executive of Grupo Pontegadea <br> Director of GARTLER, S.L. <br> Member of the Board of Trustees of Fundacion Amancio Ortega Gaona | June 2012 | 30,000 |- | [[Amancio Ortega|Mr. Amancio Ortega]] | Founder & Board Member of Inditex | June 1985 | 1,848,000,315 |- | '''Pontegadea Inversiones, S.L. ''' <br>Ms. Flora Perez Marcote | Board Member of Inditex | December 2015 | 1,558,637,990 |- | Mrs. Irene R. Miller | Independent Director & Board Member of Inditex <br> CEO of Akim, Inc. <br> Board Member & Chairman of the Audit Committee of [[Coach, Inc.]] <br> Board Member of [[Toronto-Dominion Bank|Toronto-Dominion Bank Financial Group]] | April 2001 | 66,200 |- | Mr. Jose Luis Duran Schulz | Board Member of Inditex <br> Independent Director & Member of the Audit Committee of [[Orange (company)|Orange]] | July 2015 | |- | Mr. Rodrigo Echenique Gordillo | Board Member of Inditex <br> Chariman of [[NH Hoteles]] | July 2014 | |- | Mr. Carlos Espinosa de los Monteros Bernaldo de Quiros | Board Member of Inditex <br> Chairman of Fraternidad-Muprespa <br> Board Member of [[Acciona|Acciona, S.A.]] <br> Board Member of [[Schindler Group|Schindler Espana]] <br> Board Member of [[Yell Group]] | May 1997 | 150,000 |- | Mr. Emilio Saracho Rodriguez de Torres | Board Member of Inditex <br> Head of Investment Banking of [[JPMorgan Chase|JPMorgan Europe, Middle East, & Africa, Ltd.]] <br> Executive Committee Member of Investment Bank <br> Executive Committee Member of [[JPMorgan Chase]] <br> Deputy-CEO of EMEA | June 2010 | |} ===Headquarters=== Inditex headquarters are located in Sabón industrial park in [[Arteixo]], a small industrial town in the [[A Coruña]] metropolitan area. ===Shareholding=== The majority shareholders of Inditex are its founder, [[Amancio Ortega]], and the heirs of his deceased ex-wife, [[Rosalía Mera]]; Ortega owns 59% of the company through Gartler, S.L. (50%) and Partler, S.L. (9%) and Mera's heirs own 6% of the company through Rosp Corunna Participaciones Empresariales, S.L. ==References== {{Reflist|30em}} ==External links== {{Portal|Companies}} {{Commons category|INDITEX}} ;'''Official''' *{{Official website|http://www.inditex.com}} ;'''Financial''' * [http://www.bolsamadrid.es/esp/aspx/Empresas/FichaValor.aspx?ISIN=ES0148396015 Industria de Diseño Textil, S.A.] — [[Bolsa de Madrid]] * [http://www.cnmv.es/Portal/Consultas/DatosEntidad.aspx?nif=A-15075062 Industria de Diseño Textil, S.A.] — [[Comisión Nacional del Mercado de Valores]] * [http://www.google.co.uk/finance?q=ETR:IXD Industria de Diseño Textil, S.A.] — [[Google Finance]] * [http://www.hoovers.com/company-information/cs/revenue-financial.INDUSTRIA_DE_DISE%C3%91O_TEXTIL_SA.d36c89c0cd36d5f0.html Industria de Diseño Textil, S.A.] — [[Hoover's]] * {{OpenCorp}} ;'''Articles''' * [http://www.theatlantic.com/business/archive/2012/11/zaras-big-idea-what-the-worlds-top-fashion-retailer-tells-us-about-innovation/265126/ Zara's Big Idea: What the World's Top Fashion Retailer Tells Us About Innovation], [[Derek Thompson (journalist)|Derek Thompson]], ''[[The Atlantic]]'', 13 November 2012. * [http://www.nytimes.com/2012/11/11/magazine/how-zara-grew-into-the-worlds-largest-fashion-retailer.html?pagewanted=all&_r=0&pagewanted=print How Zara Grew Into the World’s Largest Fashion Retailer], [[Suzy Hansen]], ''[[New York Times]]'', 9 November 2012. {{Euro Stoxx 50 Companies}} {{IBEX 35 companies}} {{European Retail Round Table}} {{Use dmy dates|date=February 2011}} {{Authority control}} [[Category:Inditex| ]] [[Category:Clothing companies of Spain]] [[Category:Companies based in Galicia]] [[Category:Companies established in 1985]] [[Category:Conglomerate companies of Spain]] [[Category:Multinational companies headquartered in Spain]] [[Category:IBEX-35]] [[Category:Companies listed on the Madrid Stock Exchange]] [[Category:Companies in the Euro Stoxx 50]]'