Zara has opened its first store in India. In a joint venture between its Spanish parent, Inditex, and Indian conglomerate Tata Group, the new store opened in Delhi, with further openings planned in Mumbai.
Inditex is continuing with a rapid-paced global expansion for Zara that has helped cushion it from the economic woes being experienced in Spain.
“Zara’s arrival in India – the world’s second most populous country, with 1.1 billion inhabitants – represents a new milestone in the Inditex Group’s expansion in Asia,” the group said.
Inditex said Asia now accounted for 12% of its group-wide sales. It already has outlets in Japan, Singapore, Malaysia and Indonesia.
More Western firms are entering the Indian marketplace on the back of the country’s rapid economic growth, which is fuelling a big expansion in India’s middle classes. Figures released on Monday showed that the Indian economy grew at an annual rate of 8.6% in the three months to March.
However, under Indian law, overseas retailers first need to find a domestic partner.
Click Here: st kilda saints guernsey 2019