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Inditex Profit Up, Growing Zara in Asia
PARIS
Profits at Spain's Inditex SA climbed 4.3 percent in the third quarter as the fast-fashion giant pushed deeper into Asia with its flagship Zara banner.
We have significant expansion plans for the market, Inditex's chief executive officer Pablo Isla said on a conference call Tuesday, noting that half of all future Zara stores are destined for Asia, underscoring the region's strategic importance to the group.
Inditex, which also owns the Massimo Dutti, Bershka and Pull and Bear chains, said it opened 90 stores in Asia in the first nine months of the year, including Zara flagships in Tokyo's Shibuya district and on Beijing's bustling pedestrian corridor, Wangfujing Street. Japan already counts 50 Zara stores, while China has more than...