ZARA To Close 1,200 Store Instead Focusing On Big Outlet Worldwide
As a lot of big brands are starting to struggle during this period of Covid-19, ZARA isn’t being spared also.
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In their latest report, this Spanish giant fashion industry owner ZARA has reported on their losses of $409 Million Euros (S$654million) on February to April months alone. With such hefty loss, they are moving forward to focus on their main large stores and closing down 1,200 outlets worldwide.
Their plan is to increase the floor spaces from 2020-2022 while keeping their online purchases with more updated technologies on the e-commerce line of industries as the trends of online purchases have been increasing dramatically during these period of time.