Zara to launch recycled garments program in China
Jul 19, 2018
Spanish garments retailer Inditex, owner of international fashion brand Zara, is set to pilot test its at-home pick up service for recycled garments in China this September.
The initiative, which currently operates nationwide in Spain, is a central part of the group’s strategic commitment to the so-called ‘circular economy’. It has enabled the collection of more than 25,000 tonnes of garments in 21 markets since launching in 2016.
The plan was released as part of a report on Inditex’s performance last year, announced at its recent annual meeting. The report highlighted how the company’s integrated store and online model has boosted Inditex’s sustained growth.
“All of Inditex’s brands benefit from a robust integrated store and online platform,” said Inditex chairman and CEO Pablo Isla. “Last year, online sales already accounted for 12 per cent of the total in the 47 markets in which e-commerce platforms are available, representing annual growth of 41 per cent.”
He added that the model had enabled sustained growth over the years, coupled with the consistent creation of economic, social and environmental value.
Inditex has also recently embarked on a refurbishment drive for its entire global network of more than 7400 stores, accompanied by considerable growth in the Zara online platform.
The group’s earnings performance has enabled its dividend per share to increase by 70 per cent during the last five years.
Source: Inside Retail Hong Kong.