Zara Is Closing Over 1,000 Stores
its plans to shut down between 1,000 and 1,200 brick-and-mortars over the next two years and divert resources into online sales strategies.
It's not yet known exactly which Zara locations will be affected, but the closings will be "stores at the end of their useful life" and "whose sales can be recovered in nearby stores and online," the company said theirUnder that plan, Inditex CEO Pablo Isla confirmed the company will "increase the online customer service teams and the dedicated packaging both from the specific online stockrooms and from the stores," as well as offer customers...
Isla added that the company plans to invest $1 billion into its online shopping platforms over the next three years and another $1.7 billion on upgrading stores to be better equipped by "deploying advanced technology solutions." Inditex reported a loss of about $460 million between February and April, coinciding with the shutdown of worldwide locations due to
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