Pedestrians walk past Spanish fast-fashion retailer Zara in Shanghai in 2019.
Alex Tai/SOPA Images/LightRocket via Getty Images
Inditex is planning to open at least 10 new Zara stores across the US by 2025.
At least a dozen other Zara locations will be revamped or enlarged, the retailer said.
The US is currently the Spanish fast-fashion retailer's second-largest market.
Zara is expanding its store fleet in the US as it ramps up in its second-largest market.
The Spanish fast-fashion retailer is planning 30 new store "projects" in the US over the next two years, including new stores, store relocations, and renovations to existing locations, Óscar García Maceiras, CEO of Zara's parent company, Inditex, said during a call with investors Wednesday.
Inditex currently has "less than 100 stores" in the US. "This is a market in which for every $100 of fashion sold, we take less than $0.50 of that," García Maceiras said. "So, we see really very strong growth opportunities."
Foot traffic is up at Zara stores around the world, and Inditex reported a 23% jump in store sales in 2022 across its portfolio of brands, which includes Zara, Bershka, and Massimo Dutti. García Maceiras said that increase came even as Inditex shuttered 10% of its stores — though a portion of the closures were in Russia, and its Ukraine stores remain closed, the rest of the closures were part of the retailer's "retail optimization program," he said.
"As a result, we have been left with a network of bigger, better and more beautiful stores in the best retail destinations globally," he said. "These destination stores, fully digital and sustainable, provide the customer with a good reason to visit us, and they sell 60 more per square meter compared to 2019 and 30% more per store."
Inditex plans to invest 1.6 billion euros, about $1.7 billion, in expanding its stores and warehouses worldwide, including a new Zara store on Paris' Champs Elysées, and at least 10 new locations across the US. The retailer on Wednesday released a partial list of the store openings and renovations it's planning by 2025:
New Zara stores:
California
Los Angeles: The Grove Los Angeles
Brea: Brea Mall
Louisiana
Baton Rouge: Mall of Louisiana
Massachusetts
Cambridge: CambridgeSide Mall
Nevada
Las Vegas: The Forum Shops at Caesars
New York
Queens: Queens Center
New York: The Shops at Columbus Circle
North Carolina
Charlotte: SouthPark Mall
Texas
San Antonio: North Star Mall
Frisco: Stonebriar Mall
Xavi Lopez/SOPA Images/LightRocket via Getty Images
