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Zara is a Spanish clothing and accesories company created in 1975 by Amancio Ortega and Rosalía Mera in Galicia. It is the flagship chain store of the Inditex group, the world's largest apparel retailer. The fashion group also owns brands such as Massimo Dutti, Pull and Bear, Uterqüe, Stradivarius, Oysho and Bershka. In 1980 the brand started its international expansion. Zara has now stores in more than 88 countries worldwide. It is claimed that Zara needs just one week to develop a new product and get it to stores, compared to the six-month industry average, and launches around 12,000 new designs each year. Zara has resisted the industry-wide trend towards transferring fast fashion production to low-cost countries. Amancio Ortega, co-founder of the Zara clothing store chain and the Inditex Group, reached a new financial milestone when his fortune moved past the 60 billion euros mark for the first time in March 2015. In the same month, he was ranked as the fourth richest person in the world by Forbes.
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