Spanish company most profitable clothing firm in world

The company, whose flagship chain is Zara along with chains such as Massimo Dutti, Pull & Bear and Oysho, saw sales rise by 10 percent during 2011 to a total of 13,973 million euros (18,537 million U.S. dollars) worldwide. Meanwhile, its profits rose to 1,932 million euros (2,562 million U.S. dollars), 12 percent up compared to 2010.

The company opened 483 new shops last year, taking its total number of outlets to 5,525. The opening of the new shops cost the company a total of 864 million euros. Inditex hopes open 6,000 establishments by the end of this year.

2011 saw the company begin internet sales in the U.S., Japan and Europe with plans to begin online sales in China starting with its autumn-winter collection of 2012.

Despite the economic crisis, Inditex saw profits rise slightly in Spain following three years of minor losses. Globally, there was a rise in profits with the most growth being recorded in the Asian market.

The company has increased its workforce to over 100,000 worldwide, 9,400 more than in 2010.