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Zara: Fast Fashion at Affordable Prices
Zara is a Spanish fast fashion retailer founded in 1975 that has grown to over 2000 stores in 88 countries. It designs 10,000-20,000 new items per year, about 3 times as many as GAP or H&M, and produces them in small quantities to maintain an image of exclusivity. All clothing is shipped to a distribution center in Spain and then redistributed worldwide. Zara's success stems from its continuous monitoring of changing customer tastes and trends through feedback, tight control of its global manufacturing process, and preference for opening new stores over advertising to showcase new designs.
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Zara: Fast Fashion at Affordable Prices
- 2. How a SpaniardInvented Fast Fashion
- 3. COMPANY OVERVIEW • FirstStore -1975 • More than 2000 stores in 88 countries • Spanish-based Company • Sales - More than $14.5 billion
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- 6. • Designs 10,000- 20,000 different items a year • Approximate 3 Times Production than GAP/ H&M • Tight control on manufacturing process • Produces small quantity - Image of exclusivity
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- 8. All clothes areshipped back to the distribution centre in Spain and then re-distributed to all other stores in the world.
- 9.
- 10. Continuous monitoring of Customerschanging needs, trends and tastes. Fashion trends easily identified through customer feedback.
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- 12. • Retailer’s stores- key advertising element • Advertising expenditure - 0.3 percent only. • Prefers to open new stores than advertise.
- 14. What Makes ZaraSuccessful?
- 15. Would Zara’s modelwork for other retailers ?
- 17. What can Zarado to ensure successful growth around the world while maintaining the same level of speed and instant fashion ?
- 18. • Maintain atight control on manufacturing as it expands throughout the world. • Increase its online presence through online advertising and promotion. • Maintaining its Concept of “Fast Fashion” at Affordable prices.
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- 21. DISCLAIMER Created By KeshavAgarwal, KiroriMal College,DU, during a marketing internship by Prof. Sameer Mathur, IIM Lucknow.