So it's official. As of the first quarter of 2008, Inditex, the phenomenally successful Spanish fast-fashion conglomerate and parent company of Zara, has officially overtaken The Gap to become the world's biggest fashion retailer. In the meantime, the once venerable Gap is still tweaking its product around the edges, struggling to find a formula that works.
Zara stores have been popping up on high streets and in malls around the world, registering a whopping €6.3b in sales in 2007, making it larger than Louis Vuitton. Perhaps more surprisingly, the performance of Inditex's smaller brands like Bershka and Massimo Dutti has also been strong, registering revenues of €925m and €696m respectively, in 2007, making Bershka's business larger than that of Christian Dior Couture and Massimo Dutti's greater than that of Bottega Veneta.