Around the fashion chain Zara Amancio Ortega has built a global corporation. Today the Spaniard is the richest man in Europe. And he has already sought a new lucrative employment. Some days Amancio Ortega is rich with a blow to several million euros. The founder of Spanish fashion chain Zara, who will be 80 years old on Easter Monday, is the controlling shareholder of Inditex (parent company of H & M’s competitors). With each increase in the share price, with each dividend payout, the assets of the multi-billionaire continues to increase.
According to estimates by the US magazine “Forbes” is the Spaniard the richest Europeans and the second richest man in the world, behind Microsoft co-founder Bill Gates. The Journal estimated his fortune at 67 billion dollars (59 billion euros). Ortega had made Inditex within a few decades from nothing to one of the largest textile groups. The empire now includes more than 7,000 stores around the world and employs 150,000 people. Besides Zara include chains such as Bershka, Pull and Bear and Massimo Dutti to Inditex Group. Five years ago, the founder gave the management of the Group to the Vice Pablo Isla.
Ortega shuns the public like no other. He does not give interviews, until the 1990s, he had not even a photo of spread. So Inditex has long been a “business without a face” because hardly anyone knew who was behind the rapid rise. While Ortega’s fashion empire spread over the whole world, the founder hid in his home in rainy northwestern Spain. The Railwaymen’s son who never attended university, started his career with 14 years as a messenger of a shirt Business in the Galician port of La Coruña. There he opened in 1975 his first clothing store called Zara. Soon followed branches in other cities and from 1988 also abroad.
Despite its billion assets of the fashion guru’s style remained faithful: He is not suits and ties. When he was the Inditex Group implemented, he took his lunch in the canteen of the company in the sleepy little town Arteixo in La Coruña. Luxury and splendor are repugnant to him. The manager of his company, he stopped to fly on business trips in economy class and staying in cheap hotels. His hobbies are football and horse racing. The secret of success of Zara and Co. is a matter not so easily explained for experts. A principle of Ortega’s corporate strategy has been to all the steps of the fashion industry – to unite under one corporate roof – the design, manufacture, distribution and sale.
This allows the company as Inditex emphasizes itself, quickly pick up on customer preferences and then as quickly as possible to provide the desired garments in stores around the world. “A dress that has created on his computer the designer enters a record time of two to three weeks for the customer,” reported the newspaper “El País”. After his retirement from the Group Management Ortega used his time to engage in other industries. He acquired in several Spanish and European cities such as Paris, London or Berlin buildings in attractive locations. “From the fashion guru, a king of real estate has become,” stated the paper. Here Ortega benefited, were to have that as a result of the financial crisis broke, the property prices in Spain and some buildings low.