Zara. One of the most famous companies founded by Amancio Ortega. The price quality of its garments has placed it in one of the most consumed and not only in the national territory, but the success of the brand has crossed borders. In fact, there are facilities all over the world. Now the largest store will be located in a very privileged place, in Madrid.
Zara logo./Gtres
It will be next April 8 when the largest store that will accommodate Zara’s star garments will be inaugurated. More specifically, it will be located on Madrid’s Gran Vía in the renovated and emblematic Spain building. It was on Wednesday when Inditex announced this fantastic news for the brand and, of course, for the company’s users. During the presentation of its annual result comes the company’s management, which reflects a net profit of EUR 3,243 million, only 396 million less than the record reached in 2019, just before the coronavirus pandemic broke out, has released this information that positions the capital at a key point for Zara consumers.
As some indicators indicate, this store can be considered the largest of the more than 2,000 that Zaras has spread worldwide, with about 8,000 square meters. In fact, it has been designed to make you the flagship of the world brand. A challenge that the company founded by Amancio Ortega has been able to more than meet.
Establishment of a Zara store in Madrid./Gtres
The property has four floors and according to Oscar García Macías, CEO, it is a “major project” in “one of the most important urban developments” in Spain. Although it will be early next month when it opens, a meeting that it will attend Martha Ortega, daughter of the founder of the Inditex group, will not open to the public a week later. It is necessary to point out that on April 1, the youngest daughter of Amancio Ortega will take up the position as non-President of the Group. In this way, Ortega officially takes over from Paul Island.
Marta Ortega in a file image./Gtres
Marta Ortega’s salary as president
Marta Ortega is just a few days away from taking over the reins of the company that her father founded. A new position that entails some responsibility, but also a new salary. The proposal for the amount that the future CEO of the company will receive will be voted on at the next AGM and will be submitted to the AGM for approval.
The Remuneration Committee has carried out an analysis of the external competitiveness of the total remuneration, thanks to the help of an external advisor specializing in directors’ remuneration issues, in order to be able to set the right levels for the new positions. The figure set has been € 900,000 per year for a position as non-executive chairman, plus an additional € 100,000 more as a board member, as pointed out by Vanity.