Inditex exceeds €1.1 billion net profit through key online growth transformation

Spain
Published:  11 March, 2021

Owing in large part to its online sales increase of 77% to €6.6 billion, Spanish apparel group Inditex completed a successful financial year in 2020, despite the Covid-19 pandemic.

Inditex generated net sales of €20.4 billion in 2020, reducing the year-on-year decline to 28%, or 25% excluding the foreign exchange impact. This was despite 100% of its stores being closed or having restricted trading hours / capacity as a result of the global pandemic.

Inditex’s executive chairman, Pablo Isla, said of the results: “Inditex as a company is stronger today than it was two years ago, with a unique business model and a global, flexible, digitally integrated and sustainable sales platform, which places us in an excellent position for the future”.

In 2020, Inditex launched its online sales platform in 25 new markets and opened new stores in 29. Its eight retail brands are currently available online in 216 markets internationally, 91 of which offer the integrated store and online shopping experience.

The deployment of the integrated stock management system (SINT) made it possible to fulfil 46 million online orders worth €1.16 billion from Inditex’s stores in 2020. Inditex continued generating cash to reach €7.6 billion net financial position by close of the 2020 financial year.