Inditex's CEO, Óscar García Maceiras, assures that the group's pricing policy is "tremendously stable" despite inflation and confirms that the company will close the year with 110 physical stores in the United States.
The CEO of Inditex, Óscar García Maceiras, reaffirmed this Friday the group's stable pricing policy despite the impact of inflation. "Our pricing policy is tremendously stable," he assured during his speech at the VI Retail and Mass Consumption Forum, organised by El Economista, as reported by lavozdegalicia.es.
García Maceiras explained that in the company's historical series, price has always been considered a commercial decision, not a financial one, based on seeking the necessary efficiencies to protect the company's figures. "We are very diversified and our strategy is of stable prices," he emphasised.
The top executive of the Galician multinational highlighted that the group has growth opportunities in all the markets where it operates, as it holds a global share of 2% in the fashion business. "The limit will be set by us, because we have room to grow without losing sight of our essence, which is based on design, quality, and accessible pricing for a wide spectrum of customers," he noted.
Regarding international expansion, García Maceiras focused on the United States, its second market, where the company is present in 26 states. According to his forecasts, Inditex will close the year with around 110 physical stores in the country and an online operation that captures 0.5% of all fashion sales in the US market.
"Zara will continue to grow in the United States, we have projects to improve our presence and before the end of the year, we will reopen our flagship on Fifth Avenue and next year we will open new stores in Pittsburgh and San Francisco"
The executive detailed that the multinational, which only operated with Zara in the United States, is now launching its other brands. Massimo Dutti will open its second store in New York next week, while Bershka has recently entered the market.
Regarding the financial strategy, García Maceiras emphasised that the group's ambition is to maintain stable margins and a financially healthy structure, with all performance linked to commercial activity. He also reaffirmed the commitment to investors: "What has characterised us is trying to make an attractive remuneration for our shareholders compatible with investing everything necessary to grow the group."
When asked about the competition from digital platforms like Shein, the CEO insisted that Inditex's focus remains on design, quality, sustainability, and affordable pricing in all the countries where it operates. On the possible diversification into home products, he recalled that the group has always been capable of testing new product lines, something that will continue to be the natural consequence of what customers demand.
In terms of technology, García Maceiras noted that the company has naturally adopted available technology to listen to customers and identify what they are looking for. "It is not possible to conceive the relationship with the customer exclusively in the physical model," he stated, while emphasising the full interconnection between the physical and digital worlds.
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