Fashion giant Inditex closed Friday with a market capitalisation of €100.2 billion. This milestone had not been reached since November 2021.
The Amancio Ortega-founded company international, which includes brands such as Zara and Pull & Bear, closed the day up 2.23%, to €32.15 per share.
Moreover, for the first time since daughter Marta Ortega took over with Óscar García Maceiras as CEO, this made the clothing company worth more than €100 billion on the stock exchange. At €100.2 billion, the stock market value reached its highest level since 10 November 2021. At that time, Inditex had a market capitalisation of €100.6 billion.
Amancio Ortega’s daughter started the new step in her career, as the head of Inditex, on 1 April 2022, while García Maceiras started as CEO in November 2021. On 7 June, Inditex will present its first-quarter results.
Increase in net profit
Inditex reported a record net profit of €4.13 billion in fiscal year 2022-2023 (from 1 February 2022 to 31 January 2023), the first year with Marta Ortega as leader. This represents a 27% increase over the previous year. It also achieved record revenue of €32.569 billion, 17.5% more than in 2021, up 18% at fixed exchange rates.
Also read: Spanish fashion giant triples profits in 2021 financial year
