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BAU MBA

Programme

Spring 2010

BAU MBA PROGRAMME

Zara- Case Study
Known for its fast, affordable fashion, retail chain Zara has built up a multi-billion dollar brand through listening and reacting quickly to its customers
Presented to: Nabila Abass Professor Dr.

Presented by: Roula Jannoun

Contents
Contents Introduction and Background Zara's marketing strategy Unified marketing approach Vertical integration Zara's five-point marketing approach to reach its customers Company history Zara's products-Manufacturing and distribution Zara: Taking the Lead in Fast-Fashion BASIC BLACK. Operation/Expansion Key Success/Failure Factors Learning Points and Recommendations Fast Fashion: ZARA - Zara doing what it does best, Fast Fashion Customer Profiles- Positioning Strategy - Differences in Marketing Strategies for the Different Customer Segments Segmentation Strategy - Targeting Strategy- Positioning Strategy - Differences in Marketing Strategies for the Different Customer Segments Zara's competitiveness Conclusion Reference Appendix of the Case Study attached
Zara Case Study

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Introduction and Background The competitive advantages of Zara are because of its cost leadership.its policy of zero advertising. Because they do not outsource their manufacturing. political condition and export tariff and microeconomic factors including local competitors. demand and location of store. however. Zara also has the ability to design and finish products to be delivered in stores within 4 to 5 weeks hence very quick to get designer-influenced products into their stores. its inventory is immediately pulled from the floors and discontinued after one week. labor cost and productivity.. efficient distribution system and high turnover of product. Likewise. the new styles are available on sales floors for no longer than 4 weeks. the company is able to more quickly respond to fluctuating customer demands in fashion trends. Zara sells quality. such as when selecting the Lebanese market. In the case that a product does not sell. the considerations include the 4Ps inherent to the Lebanese consumers and business environment. Zara's Unique Selling Proposition (USP) is to create or imitate the latest trends within a short two-week period. fast production and product variation. Zara is cheaper than its leading rivals as Benetton and Gap. both macroeconomic factors which include tax. the company preferred to invest a percentage of revenues in opening new Zara Case Study Page 19 . International strategy at Zara is defined by the combined generic strategy of cost leadership and differentiation strategy. Regulation from government and local producers protection issues are other considerations.. distribution cost and shipment cost of raw materials are considered. fashionable products at reasonable prices and based on product positioning. Zara is said to have the "most unusual strategy. the clothing brand has the ability to launch new trends and designs in a much shorter period. There are considerations. In terms of marketing approach. Market entry considerations include economics. Other considerations are characteristics or behavior of consumers and income per capita. Zara thereby boasts for low level of inventory. Zara is a popular Spanish clothing store that uses a very unique marketing strategy.

customers feel the pressure to buy an item for fear that it may not longer be there next time. including revenue attributable to the brand (derived from analysts' reports and company information) and the brand's ability to sustain future revenue. a jump of just two places from last year but representing a 15pc increase in its brand value. One company that doesn't have to worry too much is global fashion retail chain Zara. particularly as many decide whether to decrease spending or cushion a fall with continued brand investment." Zara's marketing strategy is very effective because of it’s: 1) Affordable prices and 2) Unique response to market demands. there is increasing emphasis on the brand equity of companies. Amazon and Nintendo as one of the fastest-rising brands on the highly regarded Interbrand Best Global Brands listing for 2008. This change coincided with Zara's entry into international markets. It joins household names like Google. Because items move so quickly through Zara stores. Interbrand takes many factors into account when ranking the 100 companies on the list. Unified marketing approach The first Zara store was opened by Inditex in 1975 in its native A Coruña in north-western Spain. At a time of uncertainty in global stock markets. A more conventional marketing approach had been employed prior to that. The company made the decision to go down a very nontraditional marketing route at the end of the Eighties. Zara Case Study Page 19 . Apple. Zara achieved 62nd place this year. Known for its fast.stores instead. retail chain Zara has built up a multi-billion dollar brand through listening and reacting quickly to its customers. affordable fashion.

It works. the same specific way of doing things. with the result that it is now present in almost every continent. The decision was made that Zara would no longer talk about itself (through mass marketing campaigns). The company is currently concentrating on a line of expansion from Poland to Japan. It follows the company's strategy to prioritize Europe as its No 1 growth market. followed by Asia. you can't afford to have gaps." Zara Case Study Page 19 . Each customer must be heard and we take care of every store as if it were the first one Again. "This is where Zara have room to grow". Success depends on following the strategy to the letter. however. a consolidated marketing effort makes sense in this regard as trying to keep control of individual marketing activity in every single location would prove a tall order to say the least. the same customer service. You must pursue the same policy in every single store. but would instead let the customer talk about it and so increase brand awareness through word of mouth.Today. "It's about having the same image. "The most important item is the store [rather than the market. That's Zara’s philosophy. Zara's rise continues unabated. The result is customer satisfaction. Many of the openings tend to be concentrated in the second half of the year. "It was not an easy move at the beginning. With such rapid expansion and a massive global market presence it's easy to see why a unified marketing approach is the most viable option.500 stores in 70 countries worldwide. Keeping a hands-on approach is very much part of the Zara ethos. the fashion chain has close to 1. especially since communication is such an important branch of the business.

women and children. and distribution to its own managed stores. logistics. Zara's five-point marketing approach to reach its customers Zara Case Study Page 19 . The company employs 200 designers who work in collaboration with each other based on feedback taken directly from in-store customers. manufacture. the time between receiving the order at the distribution centre and delivering the goods in store is. The fact that new stock arrives so frequently has several benefits. the turnaround time for bringing a design concept to the shelves at Zara can be as short as 15 days. on average. Brand extensions :Zara's traditional business is fashions for men. Most importantly. The process starts with an order from the store manager. The company uses a vertical integration system (devised by Inditex) to fulfil demand for its wares. All Zara stores receive new product twice a week. Thanks to the logistics system. which usually receive new styles just once or twice each season. 24 hours for Europe and 48 hours for the remaining stores.000 different articles each year. it encourages customers to come back regularly and. because styles are only available for a limited period. This compares favorably with many of the chain's competitors. teenagers attending the final performance were able to wear a Zara version of the outfit she had worn at the first show. This business model covers all phases of the fashion process: design.Vertical integration Zara produces up to 30. In fact. offering a significant advantage over competitors. There is a much-quoted story that when Madonna played a series of concerts in Spain in 2005. it promotes a sense of exclusivity. The key is the ability to adapt product to customer demand in the shortest time possible.

Galicia. 5.1. Ortega started changing the design. The aim is to have as much personal contact with the customer as possible. 3. The company based its improvements in the use of information technologies and using groups of designers instead of individuals. Zara renews this image every six to eight months in all of its stores Goods display: A dedicated team of co-ordinators display the collections by showing off the best trends. 4. Its first store featured low-priced lookalike products of popular. and Ortega started opening more Zara stores in Spain. Zara Case Study Page 19 . in what he called "instant fashions". Company history The founder of Zara. Portugal. Perhaps its most unusual strategy was its policy of zero advertising. the company started its international expansion through Porto. manufacturing and distribution process to reduce lead times and react to new trends in a quicker way. In 1980. the company preferred to invest a percentage of revenues in opening new stores instead. Zara has resisted the industry-wide trend towards transferring fast fashion production to low-cost countries. higher-end clothing fashions." Zara has also been described as a "Spanish success story" by CNN. Zara was described by Louis Vuitton fashion director Daniel Piette as "possibly the most innovative and devastating retailer in the world. In 1989 they entered the United States and in 1990 France. 2. fabrics and colours Customer service: Something Zara believes it's excellent at. opened the first Zara store in 1975 in a central street in A Coruña. The store proved to be a success. Amancio Ortega. Store location: The company always tries to find the perfect location and ensure its brand is visible to as many people as possible Store window: The first meeting point with the customer and the place where Zara advertises the next season's look Interior design and store image: Has to be right every time. During the 1980s.

In those cases. rather than on promoting predicted season's trends via fashion shows and similar channels of influence. Manufacturing and distribution Zara is a vertically integrated retailer.This international expansion was increased in the 1990s. Belgium and Sweden (1994).half of all its merchandise -. 26% in the rest of Europe. and 24% in Asian and African countries and the rest of the world.at a dozen companyowned factories in Spain and Portugal." 50% of the products Zara sells are manufactured in Spain. which the fashion industry traditionally used. particularly in Galicia and northern Portugal where labour is cheaper than most of Western Europe. produces. Zara's products As of 2007 Zara stores have men's clothing and women's clothing. Clothes with a Zara Case Study Page 19 . each of these subdivided in Lower Garment. Zara stores are company-owned. with Mexico (1992). Zara franchises the stores. Shoes. Zara makes its most fashionable items -. It focused its attention on understanding the fashion items that its customers wanted and then delivering them. until the current presence in over 73 countries. and distributes itself. except where local legislation forbids foreigner-owned businesses. as well as children's clothing (Zara Kids). Cosmetics and Complements. Greece (1993). Zara controls most of the steps on the supply-chain: It designs. etc. So while some competitors outsource all production to Asia. Currently their sizing on women's clothing goes to a US size 12 or a UK size 14 or extra large. an article in Businessworld magazine describes it as follows: "Zara was a fashion imitator. Upper Garment. Unlike similar apparel retailers. Regarding the design strategy.

With an in-house design team based in in La Coruña.it can cut its losses quickly and move on to another trend. it can modify existing items in as little as two weeks. Zara can offer considerably more products than similar companies. mainly in Asia and Turkey.longer shelf life.000 items for its key competitors. The company produces batches of clothing in such small quantities that even if it brings out a design that no one will buy -. If a design doesn't sell well within a week. That goes up to 17 times for Zara. are outsourced to low-cost suppliers.000 distinct items annually compared with 2. further orders are canceled and a new design is pursued. But to maintain its quick inventory turnover. Zara Case Study Page 19 . which keeps customers coming back again and again to check out the latest styles. this Spanish retailer is beating the pants off H&M and everyone else Zara's secret? It moves fast. The company can design a new product and have finished goods in its stores in four to five weeks. which encourages Zara fans to make repeat visits.000 to 4. Zara: Taking the Lead in Fast-Fashion When it comes to quick response to clothing trends. It produces about 11. Shortening the product life cycle means greater success in meeting consumer preferences. Spain. the company must reduce shipping time to a minimum. No design stays on the shop floor for more than four weeks. Zara's success is all the more surprising because at least half its factories are in Europe. the company says it can take a design from drawing board to store shelf in just two weeks. such as basic T-shirts. it is withdrawn from shops. That lets Zara introduce new items every week.which happened during an unseasonably warm autumn in 2003 -. The fast-fashion approach also helps Zara reduce its exposure to fashion faux pas. where wages are many times higher than in Asia and Africa. and a tightly controlled factory and distribution network. An average high-street store in Spain expects customers to visit three times a year.

creating an image of scarcity that many shoppers find irresistible "They've built up an excitement around snapping up new clothes before they go. it also keeps marginstripping markdowns to a minimum. information technology and fast delivery of new products. Zara's fast pace means that some popular items appear and disappear within a week. designs and trends." "As well as keeping sales high throughout the year. However. Italy and Japan. joint ventures and franchising.BASIC BLACK. Kuwait and Malaysia. Which among this expansion strategy is used in penetrating the Lebanese market? Does Zara conform to standardization or customization in its effort to enter the Lebanese market? Key Success/Failure Factors Success factors include cost leadership strategy. efficient distribution. Franchising is adopted on high risk countries such as Saudi Arabia. Zara adopted the first strategy for most European and South American countries which are perceived to have high growth potential and low business risk. one of the failure factors is Zara’s centralized distribution system which may not be inappropriate in entering a specific market of diverse nature like that of China. differentiation of strategy. Zara Case Study Page 19 . The second strategy is adopted for expanding the business in Germany." Operation/Expansion There are three basic international expansion strategies as entry modes: own subsidiaries.

Zara should be also watchful of product cannibalism and lack of vertical integration. smart. Zara is famous for developing cut price interpretations of catwalk styles and getting them into its stores with breathtaking speed. swanky and centrally located. modern. Zara is also often one step ahead of the high-fashion ready-to-wear brands by providing similar garments made with less expensive fabric so prices are much lower. limited season stock and at a low price. but it can easily appear in a Zara store within three weeks. it doesn’t feel cheap. “The key to the Spanish company's success was a state-of-the-art headquarters with designers. factories and distribution centers all on site. so are the customers. The secret to Zara’s attraction is that.Learning Points and Recommendations When in the process of penetrating a specific market. Zara Case Study Page 19 . Zara’s business model is characterized by flexibility. although shopping there is cheap. Fast Fashion: ZARA Zara as being one of the major international clothing retailers stands out with its business and marketing model. The stores are large. A designer dress photographed on a model during fashion week won’t arrive in department stores for months. Nonetheless. Zara knew that it could make best selling clothes faster in Spain”. while other retailers moved production to the Far East to save money. which is a production method that fulfils demand in order to manage quick turn-around. The clothes are given room to breathe and unless there’s a sale on. the clothing brand could consider an online market and establishing a distribution center in the US. Zara should be guarded on issues of local competitions and how it affects global competitions.

It has purchasing offices in Barcelona and Hong Kong. The stores are therefore Inditex and Zara’s main communication tool. The brand is rather promoted via swanky store locations and smart facades. processing orders twice a week to all parts of the world. This gives Zara a competitive advantage towards the costs of goods sold. close to head office.The company prides itself on never having used any form of advertising. In 2007 its seven Spanish distribution centres distributed 627 million garments globally Zara doing what it does best. pattern-making and visual merchandising are all done in house. Over 50% of the clothes. samples. and finished products from external suppliers.000 square metre warehouse is able of handling 60. especially high-fashion items are made in Zara’s own Spanish factories. as it can purchase from both Europe and Asia according to prices. A huge 480. Zara sources fabric. in terms of both cost and Zara Case Study Page 19 . Zara’s product managers are in constant contact with the stores. Everything is streamlined for maximum efficiency. Fast Fashion Each order contains the latest items and those requested by the store managers. That’s why no two stores stock the exact same products. Buying more from China in the future might reduce even more the costs of goods sold. They know within a day or two whether or not a product is successful. Purchasing. interiors and window displays.000 items per hour. The store managers play a key role by monitoring the tastes and demands of their customers. seeking customer feedback and monitoring the popularity of items. design. other inputs. This gave Zara further competitive advantage. and tailoring their stock accordingly.

in terms of both cost and control. Zara also fully owned 20 factories for internal manufacture. six months for other competitors. Customer Profiles A typical Zara customer as identified by the company is a person who is up to date with the latest developments in the fashion industry and wants fashionable. The customer can be a man. a woman. this gave Zara further competitive advantage. Zara’s business model makes it more profitable than any other retailer. Vertical integration helped reduce the bull whip effect: the tendency for fluctuations in final demand to get amplified as they were transmitted back up the supply chain. Zara does not compete on price. Aside from this a typical Zara customer can belong to any social strata and demographic segment as Zara caters to a wide range of tastes. Zara rather competes on fashion they can only do that by having that quick response capability. So by playing both the role of the manufacturer and the role of the retailer. trendy and unique outfits at affordable prices. We already know from marketing that the retailer gets almost half the price of the commodity sold. Zara could originate design and have finished goods within four to five weeks for entirely new designs and two weeks for restocking or modifying existing products vs. As Zara has its origins in Spanish fashion and is primarily and European fashion brand. The usual Zara customer is not very price sensitive. Segmentation Strategy Zara Case Study Page 19 .control. Zara is definitely much more profitable than the average retailer with similar posted prices. Again. a teenager or even a child who is interested in being upto-date. These factories apply just-in-time production (JIT). the customers of Zara also are also heavily influenced and moved by European fashion. All the production was fully under control of Inditex.

(Safe.The segmentation strategy employed by the fashion retailer Zara is based on the typical demographics of the customers like gender. However aside from this the company also targets customer is based on their sense of fashion and style e. Latino etc. The company targets customers that are interested in high fashion want to be up to speed with the latest fashion trends but are not able to afford clothes and accessories from the couture and high end boutiques. 2007) The ethnicity of the brand as well as its target market is blended by Zara in its product offering which match a variety of tastes and settings. Targeting Strategy Inditex with its brand Zara has targeted a wide gap in the retail market. Differences in Marketing Strategies for the Different Customer Segments Zara highly differentiates on the marketing strategies that it employs for Zara Case Study Page 19 . trendy. high fashion and accessible. In order to target the market. As a result the marketing strategy that is employed by Inditex for Zara is to open stores and outlets that provide the Zara experience at high profile locations to set the image of the brand as being trendy. the collection of the clothes and accessories and the marketing campaigns pulls the target markets to the Zara stores. grunge. along with the brand persona. This. Positioning Strategy The main objective for positioning the Zara brand in a market as mentioned by the company is to ‘democratize fashion’. The company aims to provide its customers with trendy and high fashion products at lower prices to accommodate their requirements.. hip. classic.g. Zara strategy launches its outlets in high profile locations and provides customers with a turnover time of 4-5 weeks for its new collections made available at a fraction of the couture cost. contemporary. age and psychographics.

2. Zara has rather developed a combination of differentiation and cost leadership. and ended up with a successful formula. as the company does not have extraordinary advertising expenses to create brand recognition. The reduction in transportation time by having the whole production close to the market give Zara a big lead-time advantage compared to its competitors. A short lead-time is important for Zara to be able to offer the latest fashion in store at all time. This is not a pure differentiation since Zara does not charge a premium price for the product. all are the same in every store which allows the company to take better advantage of real estate opportunities regardless of the market the company is in. volume. Zara fast response to market changes gave them a competitive advantage in creating fashion and satisfying customers plus the fact that the company is getting larger and more global than it has been. Nor either is it a pure cost leadership since the objective is not to become the lowest-cost producer in the industry. Costs: that Zara did not incur when entering a new market. Zara Case Study Page 19 . Zara gets a competitive advantage by offering the customer fashionable clothes to affordable prices. through the incorporation of technology as they have developed about 95% of the software it uses. and delivery points. theme and grouping of ensembles to attract customers Zara's business model improved over time. SKUs. For this the company uses innovative window displays and in store music. Zara did not face the two basic barriers for going globally which are: 1. Logistics: which involve being ahead of the curve.targeting the different customer segments of its target market. The main theme of the brand Zara is uber fashion with a fashion guru/fashionista theme which is common for all customer segments.

It also makes it possible for Zara to have a higher turnover and continuously refresh its stores with new fashion twice a week. reduce the cost of holding it and the risk of stock going out of date. The reduction in lead-time does more than improving the forecasting. Their ability to quickly respond to market needs with very Zara Case Study Page 19 .structure. the prediction of the next fashion has to be prepared carefully. customer will visit the store more frequently leading to more sales. to base the future revenue on always offering fashionable clothes depends on good predictions of customers future preferences. and what the customers finds fashionable today might be impossible to sell tomorrow. which conduct to release of capital locked up in stock. Therefore. by owning a big part of the facilities they are able to have better control of the production and are always able to reschedule each factories production plan to concentrate on that part of the collection that is most important at that moment. Zara's short lead-time gives a higher chance for a more accurate predicting the next fashion. Further. or not be able to sell it at all. The chance for a miss prediction is quite big and knowing that there is a chance of ending up selling the whole collection on discount. In the fashion industry the customer's demand changes rapidly. This makes them able to meet the customers demand and offer a higher level of fashionable clothes in their stores. The geographical close network by keeping the production close to the headquarters in Europe and keeping the whole team working in the same building might also lead to reduction of the lead-time. It also decreases the level of inventory. this comparing to many of the competitors that refresh their store once a session. they have carefully integrated a good IT. In addition. particularly ones connected to its quick -response capability and the ways in which they create competitive advantage Zara choices to compete have mainly been concentrated on their quick response capability.which more commonly keep their production in the Far East. Knowing that there will always be new designs in a Zara store. Zara's choices about how to compete. Making collaborating and meeting less time taking.

Not only does Zara attain higher customer satisfaction as they are quickly able to respond to their feedback and needs. Zara's competitiveness comes from: Innovation: not to stop but always producing new things based on customer desires and changes in market. Quick response time that led to significant compression of cycle times enabled by improvements in information technology and encouraged by shorter fashion cycles and deeper markdowns. 2. people who think about the company 24 hours a day. personnel costs. 3. Segmentation: the company took advantage of unserved segment. However it is difficult to decide that Zara will not step down because there is always uncertainty in the market and the degree of certainty in planning decreases over time but as long as the company continues to maintain the philosophy of adapting to the market and operates from the bottom up. 5. It targets buyers who like fashion and that is not limited by international borders. which simplifies things a lot. a segment where someone might offer good quality fashion at a reasonable price and managed to insert themselves in. 4.short business cycles have given the company a distinctive competitive advantage over the competition. but also Zara manages to highly decrease its operating costs as a result of decreased inventory held and thus lower level of risk when new models are introduced. Experience regarding real estate. it will not be dropped out. Below is a graph of how Zara choices created a number of competitive advantages for the company: The above model clarifies the huge advantages gained by Zara as a result of their reduced business cycle. Simple strategy: the company is looking for a target without analyzing ages or lifestyles. hiring and other contract negotiating. 1. people who understood this type of work from the outset. Zara Case Study Page 19 . Selection of personnel: having motivated and dedicated personnel.

Zara Retailing strategy  To be successful an organisation must have a clear competitive strategy  Distinctive competences based on critical success factors in the value chain are the source of competitive advantage  Each element of the value chain can serve to increase value. Internationally. the strategy ZARA adopted was to test the market by flagging one store then expanding according to market needs. Zara has managed to position itself differently in different market. This strategy helped the fast growth of the company as well as eliminating the risk factors. Moreover. one can see that Zara was successful in migrating its competitiveness globally. the image ZARA created over the years minimized the need for any marketing activity and the flagged pilot store. Zara manages to obtain insight of the local market and how best to adapt to it. By adapting to each culture. would develop the company brand awareness in the new country.Conclusion Zara competitiveness as highlighted in number 4 managed to travel globally successfully. understanding and responding to customer needs are of vital importance Zara Case Study Page 19 . As 55% of Zara revenues coming from abroad. based on a prototype. motives and patronage decisions is fundamental to retail strategy  In increasingly competitive markets new ways of hearing.  A clear understanding of customer needs. Zara strategy of opening one store for information gathering in the initial phase of entering a new market is one of its key strength points. By starting with such "information gathering" store.

Zara Stores May 13th 2010 [2] • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Spain: 504 stores France: 118 stores Italy: 90 stores Portugal: 82 stores United Kingdom: 65 stores Germany: 65 stores Japan: 48 stores Mexico: 48 stores Greece: 47 stores United States: 46 stores China: 35 stores Russia: 32 stores Belgium: 26 stores Brazil: 26 stores Poland: 26 stores Turkey: 26 stores Saudi Arabia: 21 stores Israel: 19 stores Canada: 18 stores Netherlands: 15 stores South Korea: 15 stores Colombia: 12 stores Austria: 11 stores Venezuela: 11 stores Sweden: 10 stores Switzerland: 10 stores Ireland: 9 stores Romania: 9 stores Argentina: 8 stores Indonesia: 8 stores United Arab Emirates: 8 stores Chile: 7 stores Singapore: 7 stores Czech Republic: 6 stores Philippines: 6 stores Hungary: 5 stores Kuwait: 5 stores Malaysia: 5 stores Thailand: 5 stores Cyprus: 4 stores Finland: 4 stores • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • • Latvia: 4 stores Lebanon: 4 stores Lithuania: 4 stores Morocco: 4 stores Norway: 4 stores Serbia: 4 stores Slovenia: 4 stores Ukraine: 4 stores Denmark: 3 stores Egypt: 3 stores Bahrain: 2 stores Costa Rica: 2 stores Croatia: 2 stores El Salvador: 2 stores Estonia: 2 stores Guatemala: 2 stores Honduras: 2 stores Iceland: 2 stores India: 2 stores Jordan: 2 stores Luxembourg: 2 stores Panama: 2 stores Qatar: 2 stores Slovakia: 2 stores Syria: 2 Stores Tunisia: 2 stores Uruguay: 2 stores Uzbekistan: 2 stores Andorra: 1 store Bulgaria: 1 store Dominican Republic: 1 store Kazakhstan: 1 store Malta: 1 store Monaco: 1 store Montenegro: 1 store Oman: 1 store Pakistan: 1 store Puerto Rico: 1 store Zara Case Study Page 19 .

emil. http://www.php?aid=181 8.zara.820470.North Carolina State University 6.ncsu.wikipedia. http://www.com/en/who_we_are/timeline Inditex Group.businessweek.tx. Zara Official website http://www. BusinessWeek. Zara Case Study Page 19 .com/globalbiz/content/apr2006/gb20060404_167078. Zara.edu/jtatm/volume5issue1/Zara_fashion.htm JTATM . The Reign of Spain.enotes.gatech. CNN.4 April 2006 11. Inditex http://www.edu/news-events/article.inditex.org/wiki/Inditex_Group 2007 2.com/magazine/content/06_36/b3999063.com/ 4.uk/g2/story/0.com/BUSINESS/programs/yourbusiness/stories2001/zara/ CNN June 15 2001 10.00.3604.cnn.co. The Guardian. htm?chan=innovation_branding_brand+profiles.External links References and media related to: ZARA Inditex timeline.html 28 October 2003 9. a Spanish success story. http://www.in/content/view/898/953/ 5. a Spanish success story http://edition. Fashion Conquistador http://www. Zara: Taking the Lead in Fast-Fashion. [1] Executive Masters in International Logistics at Georgia Tech http://www.businessweek. ^ Zara: Spanish season http://www. http://en.htm Businessweek 7.cnn.com/company-histories/industria-de-diseno-textil-s eNotes overview 3.businessworld.guardian. Zara Fashion http://www. http://edition.com/BUSINESS/programs/yourbusiness/stories2001/zara/ 15 June 2001 1. Zara.