Bad news from the side of Inditex. The possible new chain of low-cost shoes and accessories, whose rumors in January pointed to that it would be released between July and September 2011, happens to be frozen without a forecast of when we will see it on the street.
The project of the new brand will continue being studied by Inditex which does not want to risk more by the economic crisis affecting Europe and United States. Bad signature Uterqüe takeoff may have enough to do, since it has accumulated in these three years in Active losses By 12 million with respect to fiscal year 2010.
Pablo Isla, first Vice President and Advisor Delegado de Inditex.
While Inditex has grown 11% in the first quarter of 2011 the new project is very green, even failure to approve “ the so-called brand that would have the chain, not to Europe, necessary procedures for its implementation nor the Spanish authorities launched “, in the words of Agustín Marco for the confidential.
Another interesting fact that highlights framework is that “ sales of Inditex Group takes two years, stagnant or falling close to 1% “. These may be some factors negative for the company who now leads Pablo Isla continue waiting for their moment to launch a new brand of accessories and shoes. Already in his day, when I asked Inditex officials about it, they told me that there was nothing safe and that everything was at a very basic stage, implying that much remained to be done. And that was in April 2011. There is still time to think about what this brand new.