The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Retail Wholesale Trade, Except Of Motor Vehicles And Motorcycles Wholesale On A Fee Or Contract Basis 46.16 - Agents involved in the sale of textiles, clothing, fur, footwear and leather goods
500 jobs Number of planned job creations
Announcement Date
13 December 2006
Employment effect (start)
1 December 2006
Foreseen end date
31 December 2007
Description
Spanish clothing retailer Inditex SA, announced on 13 December 2006 the opening of 25 new stores in France. Inditex, owner of the Zara chain, announced its fiscal nine-month net profit rose 22% follwing the opening of stores and a reduction in costs. France is the second largest market in the world for Zara, with 148 stores employing 3,400 people. As a result of the expansion plans, 500 additional jobs will be created in France between December 2006 and December 2007.
Sources
14 December 2006: Le Figaro
Citation
Eurofound (2006), Zara, Business expansion in France, factsheet number 64594, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64594.
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