The daughter of Inditex’s founder has been appointed Chairman of the high street fashion giant. Inditex owns brands such as Zara and Massimo Dutti. The new chairman of Inditex, Marta Ortega, will replace Pablo Isla, who has served as its chairman since 2011.
As an assistant at the company’s High Street brand Bershka, Ms Ortega worked for the company for 15 years. I have always said I would dedicate my life to building on my parents’ legacy,” the 37-year-old said.
I’ve lived and breathed this company since I was a young girl, and I’ve learned so much from all the great professionals I’ve worked with over the past 15 years,” said Ms Ortega, adding that she was deeply honored by the trust the firm had in her.
Inditex, which owns Zara, Massimo Dutti, and other high-street clothing brands, has appointed its founder’s daughter as its new chairwoman.
Ortega will succeed Pablo Isla as chairman of Inditex, the company’s chairman since 2011.
Having started out as an assistant at Bershka, Ms Ortega has worked for the company for 15 years.
The 37-year-old said, “I have always said I would do everything I could to build upon my parents’ legacy.”
Since I was a child, I have lived and breathed this company, and I have learned a lot from all the great professionals I have worked with over the last 15 years,” said Ms Ortega, adding that she felt honoured by the trust the firm placed in her.
In addition to launching Zara’s premium clothing collections such as Zara SRPLS and Charlotte Gainsbourg by Zara, Ortega is credited with strengthening the retailer’s brand image.
Amancio Ortega co-founded Inditex with his ex-wife Rosalia in 1975 in Galicia, Spain.
In Forbes’ list of the world’s richest people, Mr Ortega comes in at $77,8 billion (£58.3 billion). He served as Inditex chairman from 2001 to 2011.
With over 6,600 shops around the world, Inditex has become a dominant force on High Streets around the world, including Pull&Bear and Stradivariusm.
The clothing is made in close proximity to the company’s Spanish headquarters or in nearby countries such as Portugal, Morocco, and Turkey, allowing the firm to react quickly to new trends. 15 years ago, Marta Ortega Pérez started working for Inditex on the shop floor in London.
With nearly 7,000 stores, over 8,000 factories, and a market value of $100 billion, she will serve as the company’s chairwoman.
She seems to have the right skills for the job, but is she qualified?
During her formally employed time at the company, she learned a lot about the company.
Others will see it more as a Spanish version of the HBO series “Succession,” where family members are given preference over better qualified team members for top jobs.
The news of the appointment has indeed caused Inditex’s shares to fall.
Marta Ortega Pérez, along with new CEO Scar Garca Maceiras, will face numerous challenges.
Consumers are becoming more aware of the environmental costs of fast fashion, which puts Zara in an awkward spot – its reputation is built on bringing style trends to High Street stores quickly and cheaply.
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