International vogue retailer Zara’s oldest retailer in South Africa at Sandton City can be closed for the first three months of 2023 to make approach for the retailer’s in depth makeover, the group has confirmed.
The overhaul will see the retailer align with the internationally owned model’s world imaginative and prescient.
Confirmation of Zara’s plans for the flagship retailer got here after considerations have been raised on social media in early December that the Spanish retailer – owned by multinational clothes firm Inditex – could also be closing a number of of its shops in the nation to apparently give attention to constructing its on-line providing.
Read: Fast-fashion upstarts are utilizing Shein’s personal methods towards it
However, Zara denied that any closures in SA have been on the playing cards in an emailed response to queries from Moneyweb.
“Zara remains committed to our customers in South Africa and this is bolstered by the extensive refurbishment and enlargement of our flagship store at Sandton City shopping centre in Johannesburg,” the group mentioned.
“First launched in 2011, Zara Sandton City will be updated to showcase the brand’s new global concept,” it added.
Headquartered in Spain and listed on the Spanish Stock Exchange’s Bolsas y Mercados Españoles, Inditex is one among the greatest ‘fast fashion’ teams in the world, working greater than 6 3oo shops. It at the moment has seven Zara shops in South Africa, largely in main malls like Sandton City, Gateway, Menlyn Park, the V&A Waterfront and Mall of Africa.
Listen to Suren Naidoo talking to Old Mutual Property’s Ahmed Kazi about retail innovation at mega malls (or learn the transcript):
Inditex, which does enterprise throughout 215 markets, additionally owns manufacturers like Pull&Bear, Massimo Dutti, Bershka, Oysho, Stradivarius and Zara Home.
The retail big says the Zara Sandton City location is barely anticipated to reopen in the second quarter of the new year.
Shoppers who frequent the Zara Sandton City retailer could have to divert their procuring to the retailer’s on-line retailer or alternatively store at Zara’s different shops in Gauteng.
“Zara remains committed to providing our customers in South Africa with a fully integrated and seamless shopping experience in both our physical store as well as on online,” mentioned the retailer.
Read:
Woolworths lastly sells David Jones
Supply disaster spurs SA retailers to finish Asia reliance
Listen: Sandton City buying and selling above pre-pandemic ranges
Zara was loath to disclose any particular particulars about the worth of its investments and future enlargement plans in SA to Moneyweb.
However, the retailer did spotlight that it had opened a new retailer at Canal Walk procuring centre in Cape Town earlier this year.
“In May 2022, we opened a new concept store at Canal Walk shopping centre – this opening marked the second new concept store in the country following the extensive expansion and refurbishment of the Zara store at the V&A Waterfront shopping centre in 2021,” Zara mentioned.
Group development
Inditex on Wednesday, 14 December, launched its interim results for the 9 months ended October 2022. According to the group, its gross sales have been optimistic throughout all its geographical areas, with gross sales in fixed forex rising 20% to €23.1 billion.
“Over the 9M2022 traffic and store sales increase markedly. Key to this was store differentiation,” it mentioned.
“Online sales continue progressing satisfactorily and were above the record figures of 9M2021,” added Inditex.
For the the rest of its 2022 monetary year, the group says its future enlargement can be drastically supported by funding in its shops, making progress in on-line gross sales development and bettering its logistics platforms – putting specific give attention to innovation, know-how and sustainability.
Inditex added that it expects its on-line gross sales to exceed 30% of complete gross sales by 2024.
