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The Iberian group, owned by magnate Amancio Ortega (whose fortune is 73.6 billion dollars) manages several brands, such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterqüe, recalls Forbes magazine.
Although activities will not cease completely in Colombia, as will happen in other countries, the conglomerate announced – quoted by the financial media – that it will close the Zara store in the Fontanar shopping center, in Chía, and two branches of Bershka and Oysho, in the Santafé and Multiplaza centers in the capital, precisely due to the isolation measures for the coronavirus, pico and cedula and others, which have especially hit shopping centers.
For the group, the criteria for closing certain stores is profitability, and it expects the activity of the closed points of sale to be absorbed by the remaining stores that will not close. The intention to close 1,200 globally was taken in June 2020.
Zara stores arrived in the country in 2007, brought by the Harari group, which derives more than half of its sales through Zara stores.
Figures cited by the specialized portal America Retail indicate that Harari is the main textile fashion group in the country, and had sales of 926,000 million pesos in 2019, from 7 brands, with a growth of 6.6%, with assets in Colombia for 681,000 million pesos.
As stated above, Zara brings 52.3% of sales, followed by Berskha, with 16.1%; Stradivarius closes the podium, with 14.1% share of sales, the newspaper published.
The Inditex group obtained in the third quarter of 2020 a net profit of 866 million euros (1,051 million dollars) thanks to the recovery of sales, once the impact caused by the coronavirus pandemic in the first semester had been overcome, but that did not prevent them from deciding to close the stores that do not report dividends.
