The mega fast-fashion enterprise, Inditex, the mother company of Zara, announced on Wednesday that it’s closing around 1,000 to 1,200 stores over the next two years, according to Business Insider.
The news came from Inditex, after reporting it’s first-quarter earnings. The Spanish Fashion Moghul is also the parent company of Massimo Dutti, Stradivarius, Pull & Bear, Oysho, and more.
It was also announced that the company’s plan for the next three years is shifted towards E-commerce, with $1 billion worth of investments, and it’s also spending around $1.7 billion on its stores to become more compatible with its online platform.
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