Business Services Industry
Sunday Business, London, Business Briefs Column.
Knight Ridder/Tribune Business News, February, 2003
By Giles Tremlett, Sunday Business, London Knight Ridder/Tribune Business News
Feb. 16--SPAIN'S QUIET MAN GOES BACK TO BASICS AT ZARA: The man behind Zara, the high-street fashion chain that has taken capital cities from London to Paris by storm, is going back to basics. Amancio Ortega, Spain's quiet billionaire, is planning a chain selling textiles for the home. Some 80 percent of products will be consumer items such as sheets, bedspreads, towels and duvets, but Ortega also plans to sell crockery and cutlery.
Given Ortega's success, the odds on tills in the new stores ringing up increasing profits for shareholders in his company Inditex are more than good.
Zara's success so far has seen Ortega ascend the Forbes rich list, up from 43...
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