London Zara Flagship Store Is Being Bought By Clothing Giant Inditex For $242 Million.

On the morning of June 19th, Spain, the world's largest apparel retailer Inditex The group announced on Monday that it has spent 155 million pounds (about 242 million US dollars) to acquire its flagship store in London, Zara.

The company said it had purchased the 7000 square meter building at the intersection of Oxford street and New Bond Street from the German fund manager Deka. The building includes 3155 square meters of retail space, and the rest is leased to third parties as office space.

Although most of Inditex's stores are rented, the company is also keen to acquire the best stores. Last year, the company acquired a total of 485 million euros (US $612 million) for the Galleria Vittorio Emanuele II in Fifth Avenue, New York and Milan, Vitorio. Zara Flagship store.

As Spain's largest listed retailer, Inditex operates 8. Clothing brand 。 The company has been expanding rapidly outside the local market and now operates more than 5600 stores in 84 countries.

The company's earnings report released last Wednesday showed that its net profit in the first quarter rose 30% to 432 million euros ($538 million), with a revenue of $3 billion 400 million.