Ortega himself–who owns nearly 60% of Inditex–stays out of the spotlight, never granting interviews. He stepped down as chairman of Inditex, but reportedly remains very involved in the business. He leads a quiet life in La Coruña, a seaside town near Inditex’s headquarters in Arteixo.

Amancio Ortega: Founder of Zara and Richest Person in Spain

Ortega managed to leverage the success of Zara and invested in other businesses. He has several properties that can be found in Madrid, London, Miami Beach, New York City, Chicago, and Seattle. The Spanish billionaire enjoys a life away from the limelight owner of zara net worth and often gives little chance for interviews to the press. He is one of the richest men in Europe despite several losses recently. Ortega founded the Amancio Ortega Foundation in 2001, a charitable organisation focused on education and social welfare.

• Bloomberg reported in 2012 that he eschewed a private office to sit among the designers and fabric experts at Zara’s headquarters, while another report said he typically ate lunch with his employees in the company cafeteria every day.
• Since Inditex’s initial public offering in 2001, Ortega has received more than 9 billion euros, or about US$10 billion, in dividends, according to Bloomberg.
• Information filters up the food chain, as far as the 350 strong design team in Arteixo, Spain.
• Ortega has also invested in the Epic Residences and Hotel, a luxurious, 54-story skyscraper in Miami.
• Some are merely “school of” – such as this year’s Barbie doll t-shirts which miraculously chimed with the Barbie theme of Jeremy Scott’s Barbie doll collection for Moschino this spring, even featuring a similar typeface.
• He was always ambitious for his business but he never focused on personal wealth, and has often expressed his astonishment at how things have turned out, he reports.

HMV boss says more people buying DVDs and Blu-ray

When a batch of white jackets stubbornly refused to fly out of Manhattan branch of Zara a few years ago, sales staff talked to shoppers and discovered Manhattanites prefer cream. The run was withdrawn, re-issued in cream and sold out in that 42nd street branch. That’s city-specific customisation for you.Hits aren’t simply endlessly reproduced, they are modified, ostensibly so that customers won’t walk into a room of identically dressed women, but also to encourage them to buy several versions. He gradually gathered further experience with other retailers and by the early 1960s was ready to set up in business with members of his family and his future wife, Rosalia Mera.

Short Supply Chain

Most recently in August, Ortega bought a 45-storey apartment tower in Chicago for a cool US$232 million. The building has 492 flats along with a fitness centre, yoga studio, dog park and pet spa. He and his wife live in La Coruña, Spain, near a major port of the Atlantic Ocean. In 2011, he bought the tallest skyscraper in Spain, the 157-metre Torre Picasso in Madrid, for US$536 million. In 2016, he bought another Madrid skyscraper, Cepsa Tower, for US$551 million, and invested in the Epic Residences and Hotel, a luxurious, 54-storey skyscraper in Miami.

He invested in the Epic Residences and Hotel, a luxurious, 54-story skyscraper in Miami …

What gave him the edge, and made Zara and its parent company Inditex such a success, was one particular insight. Yet compared to the world’s other richest people, he has chosen to keep a low profile, avoiding interviews and media appearances whenever possible. Every day he still makes the 10km journey from his town centre house to the Inditex headquarters, based just outside the coastal town of A Coruna where he first launched the Zara brand. Even this week, when the company’s rising share price made him the richest man in the world for two days, he wasn’t ready to retire. Ortega protects his privacy so fiercely that, when he made his first public appearance in 2000, in advance of the Inditex IPO, the fact made headlines in the Spanish financial press.

px” alt=”owner of zara net worth”/>https://www.1investing.in/ real estate portfolio that includes office and residential buildings around the world. Inditex has has been working to recover from the pandemic, after sales were hit by temporary store closures and a pullback in spending on clothes. Its model of selling mountains of cheap, disposable clothing has also increasingly come under pressure in an industry grappling with sustainability and its impact on the planet.

Pull&Bear was started in 1991, according to the official company website. Other Inditex brands include Bershka, Massimo Dutti, Oysho, and Zara Home. Bershka was its second-biggest brand by revenue in fiscal 2023. “They’ve got two people there who have relevant and long experience of the company – Carlos Crespo and Oscar Maceiras,” she told the BBC.

At the turn of the 21st century, as Ortega approached retirement, he decided that taking his family-owned business public was the best path forward. When Inditex listed on the Madrid Stock Exchange at a valuation of €9 billion—one of the most successful initial public offerings (IPOs) of 2001—Ortega’s sale of over 20% of his stake made him the wealthiest man in Spain, with a fortune estimated at over €4.6 billion. Over the next 10 years, Ortega took the business through a rapid series of expansion milestones. In 1977, company headquarters and Zara’s first garment factories were established on the outskirts of La Coruña. By 1983, there were nine Zara stores in shopping districts across cities in Spain; in 1984, the company’s first logistics center opened in that same central hub outside La Coruña. In 1985, as Ortega was preparing to launch the Zara brand internationally, Inditex was officially incorporated as the parent company for Zara.

In 2017, it donated US$344 million to Spanish public hospitals to provide the latest technology in breast cancer screening and treatment. In the Big Apple, he also bought the ornate and landmarked cast-iron building at 490 Broadway on the corner of Broome Street for US$145 million in the same year. Ortega picked up another New York property a year later, this time a hotel at 70 Park Avenue in Murray Hill for US$67.6 million. Ortega has been married to his second wife Flora Pérez since 2001.

Just this week, authorities in the French city of Bordeaux rejected plans by a Zara store to double its floor space, over allegations the fashion label may have profited from the forced labour of Uighurs in China. Ms Ortega has been credited with strengthening the retailer’s brand image, having led several campaigns, including the launch of Zara’s premium collections such as Zara SRPLS and Charlotte Gainsbourg by Zara. “I have always said I would dedicate my life to building upon my parents’ legacy,” the 37-year-old said. He started the company in 1975 with his then-wife Rosalia Mera.

The two of them opened the company’s first fashion store in Galicia Spain. For a few hours on Friday, Amancio Ortega Gaona was the world’s richest man. A surge in Microsoft’s share price and currency fluctuations meant that by close of play that day, Ortega, estimated to be worth around €66 billion, had slipped to second place.