Spanish retail group Inditex is about to open its 500th store in China.
The Chinese market is now Inditex’ second largest market after Spain, where it has more than 1869 stores. Inditex will also soon launch online stores in Mexico and South Korea.
With an active expansion program underway, the Zara parent expects to record a 14 per cent rise in revenue by 2020.
Inditex will be joined by its rival H&M of Sweden to expand in China. H&M CEO Karl-Johan Persson said the company plans to open 80-90 new stores in China this year.
Read more at Inside Retail Asia