l{"id":1228287,"date":"2023-05-17T21:57:28","date_gmt":"2023-05-17T20:57:28","guid":{"rendered":"https:\/\/www.businesstelegraph.co.uk\/marta-ortega-makes-her-mark-at-the-helm-of-zara-family-dynasty\/"},"modified":"2023-05-17T21:57:28","modified_gmt":"2023-05-17T20:57:28","slug":"marta-ortega-makes-her-mark-at-the-helm-of-zara-family-dynasty","status":"publish","type":"post","link":"https:\/\/www.businesstelegraph.co.uk\/marta-ortega-makes-her-mark-at-the-helm-of-zara-family-dynasty\/","title":{"rendered":"Marta Ortega makes her mark at the helm of Zara family dynasty"},"content":{"rendered":"<p> <script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<!-- newscabal uk text -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:inline-block;width:728px;height:90px\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"3688094655\"><\/ins>\r\n<script>\r\n(adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div itemprop=\"articleBody\">\n<p class=\"mol-para-with-font\">Dynasties are everywhere, from the Arnault family who run luxury giant LVMH to the Murdoch-esque siblings seen on Succession.<\/p>\n<p class=\"mol-para-with-font\">Inditex \u2013 the biggest fashion company in the world and owner of Bershka, Massimo Dutti, Pull&amp;Bear and Stradivarius as well as its best-known Zara brand \u2013 is home to another.<\/p>\n<p class=\"mol-para-with-font\">Founded in 1975 by Spain\u2019s richest man, Amancio Ortega, his daughter Marta Ortega Perez officially took over as chairman a little over a year ago.<\/p>\n<p class=\"mol-para-with-font\">Since then, she has set about proving her doubters wrong.<\/p>\n<p class=\"mol-para-with-font\">Now 39, she was long tipped for the top job despite being dismissed by some as little more than a showjumping socialite and billionaire heiress to the Zara fashion empire.<\/p>\n<div class=\"artSplitter mol-img-group\" style=\"style\">\n<div class=\"mol-img\">\n<div class=\"image-wrap\"> <img loading=\"lazy\" decoding=\"async\" id=\"i-3465a93cbceb5280\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/05\/Marta-Ortega-makes-her-mark-at-the-helm-of-Zara.jpg\" height=\"426\" width=\"634\" alt=\"Taking the reins: Marta Ortega Perez officially took over as Inditex chairman a little over a year ago. Since then, she has set about proving her doubters wrong\" class=\"blkBorder img-share\" style=\"max-width:100%\" \/> <\/div>\n<p> <noscript> <img loading=\"lazy\" decoding=\"async\" id=\"i-3465a93cbceb5280\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/05\/Marta-Ortega-makes-her-mark-at-the-helm-of-Zara.jpg\" height=\"426\" width=\"634\" alt=\"Taking the reins: Marta Ortega Perez officially took over as Inditex chairman a little over a year ago. Since then, she has set about proving her doubters wrong\" class=\"blkBorder img-share\" \/> <\/noscript> <\/div>\n<p class=\"imageCaption\">Taking the reins: Marta Ortega Perez officially took over as Inditex chairman a little over a year ago. Since then, she has set about proving her doubters wrong<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">Her 2018 wedding to modelling agent Carlos Torretta \u2013 which included a blush couture gown hand-delivered by Valentino\u2019s designer via private jet and a performance from Coldplay\u2019s Chris Martin at the first dance \u2013 was splashed in newspapers across the world.<\/p>\n<p class=\"mol-para-with-font\">But while succession battles elsewhere may have pitted siblings against each other as they jostled for power \u2013 such as at the fictional Roy media empire in the HBO TV show \u2013 for the Ortega family it was seemingly painless.<\/p>\n<p class=\"mol-para-with-font\">Speaking back in 2008, Amancio Ortega, now 87, described his \u2018peace of mind\u2019 that the family had \u2018managed to make it to the second generation almost without anybody noticing\u2019.\u00a0<\/p>\n<p class=\"mol-para-with-font\">\u2018The problem of succession is settled, because everything has been delegated,\u2019 he revealed.<\/p>\n<p class=\"mol-para-with-font\">Just over a year ago, Marta Ortega took up the job as Inditex chairman, 11 years after her father handed the reins to company veteran Pablo Isla, alongside a new chief executive.<\/p>\n<p class=\"mol-para-with-font\">Fast-forward a year and she is making her mark. A rare sit-down interview, with the Financial Times, sparked controversy in industry circles as Marta Ortega dismissed the notion Inditex was a \u2018fast-fashion\u2019 firm.<\/p>\n<p class=\"mol-para-with-font\">But, as critics pointed out, the term \u2013 used to slam retailers for poor environmental and worker practices \u2013 comes from a 1989 interview in The New York Times with a Zara boss.<\/p>\n<p class=\"mol-para-with-font\">\u2018The latest trend is what we\u2019re after. It takes 15 days between a new idea and getting it into the stores,\u2019 said Juan Lopez, who was tasked with breaking America for Zara at the time.<\/p>\n<p class=\"mol-para-with-font\">Although Zara churns out up to 24 collections a year, Marta Ortega has been quick to shut down association of her firm with the term.<\/p>\n<p class=\"mol-para-with-font\">She said: \u2018We don\u2019t recognise ourselves in what they call fast fashion. Because that brings to mind the amount of unsold items and poor-quality clothes focused on a very cheap price, and that cannot be further from what we do.\u2019<\/p>\n<div class=\"mol-img-group floatRHS\" style=\"style\">\n<div class=\"mol-img\">\n<div class=\"image-wrap\"> <img loading=\"lazy\" decoding=\"async\" id=\"i-d3822f6635549879\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/05\/1684399441_481_Marta-Ortega-makes-her-mark-at-the-helm-of-Zara.jpg\" height=\"459\" width=\"306\" alt=\"Father: Spain\u00bfs richest man Amancio Ortega Gaona founded Inditex in 1975\" class=\"blkBorder img-share\" style=\"max-width:100%\" \/> <\/div>\n<p> <noscript> <img loading=\"lazy\" decoding=\"async\" id=\"i-d3822f6635549879\" src=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/05\/1684399441_481_Marta-Ortega-makes-her-mark-at-the-helm-of-Zara.jpg\" height=\"459\" width=\"306\" alt=\"Father: Spain\u00bfs richest man Amancio Ortega Gaona founded Inditex in 1975\" class=\"blkBorder img-share\" \/> <\/noscript> <\/div>\n<p class=\"imageCaption\">Father: Spain\u2019s richest man Amancio Ortega Gaona founded Inditex in 1975<\/p>\n<\/div>\n<p class=\"mol-para-with-font\">But sustainability experts said her attempts to distance the brand come across as somewhat hollow. Professor Natascha Radclyffe-Thomas, an expert in sustainable business at the British School of Fashion, said Zara\u2019s trend-following model \u2018paved the way\u2019 for contemporary rivals such as Chinese e-commerce giant Shein to launch their own ultra-fast production lines.<\/p>\n<p class=\"mol-para-with-font\">While Inditex are \u2018certainly not leading lights\u2019 on sustainability, Radclyffe-Thomas said Zara \u2018has always associated themselves with a more luxury feel, even if not a luxury price\u2019, rather than tat that is worn once and thrown away.\u00a0<\/p>\n<p class=\"mol-para-with-font\">But even so, although consumers may feel like the purchases are more of an investment, \u2018we do know customers don\u2019t tend to associate fast fashion brands with longevity\u2019, she said.<\/p>\n<p class=\"mol-para-with-font\">While rivals in the same price range as Inditex have garnered a reputation for cheap, unloved outfits, Inditex has always aimed to be seen as emulating luxury. This seems to be the secret to its success.<\/p>\n<p class=\"mol-para-with-font\">Online rivals have struggled to retain fashion fans in the cost of living crisis, many of whom turned to internet shopping sprees in lockdown.<\/p>\n<p class=\"mol-para-with-font\">But in its latest results, for the three months to the end of February, Inditex posted upbeat sales and last year profits were up 20 per cent \u00a37.5billion.<\/p>\n<p class=\"mol-para-with-font\">Its biggest rival H&amp;M, which is the second largest fashion retailer beyond Inditex, posted less positive results in its own most recent update to the market.<\/p>\n<p class=\"mol-para-with-font\">In a downturn, shoppers are looking to get more bang for their buck, while some who would splash out on luxury brands are trading down to High Street alternatives.<\/p>\n<p class=\"mol-para-with-font\">So, a year in, analysts are upbeat about Marta Ortega\u2019s chartering of the retailer. A report by the Royal Bank of Canada lauded the firm for having \u2018the strongest and most consistent track record of market share gains from specialists, independents and department stores\u2019.<\/p>\n<p class=\"mol-para-with-font\">But analysts admit that \u2018management transition and ESG concerns have weighed on Inditex\u2019s share price in recent years\u2019.\u00a0<\/p>\n<p class=\"mol-para-with-font\">Still, industry experts are hopeful of a re-rating opportunity if the firm can \u2018deliver a consistent high single-digit trend in sales and earnings growth\u2019.<\/p>\n<p class=\"mol-para-with-font\">Wizz Selvey, retail analyst and former buyer for Selfridges, said Marta Ortega was \u2018steering the ship in the right direction\u2019.<\/p>\n<p class=\"mol-para-with-font\">Many would relish an opportunity to call her a \u2018nepo baby\u2019 but Selvey believes that her stint on the shop floor in Zara and Bershka stores in London during her university days \u2018can only have deepened her understanding of the business and its audience\u2019.<\/p>\n<p class=\"mol-para-with-font\">If Marta Ortega makes one thing clear in her introduction to Inditex\u2019s recently published annual report, it\u2019s that the business is on board with sustainability efforts too.<\/p>\n<p class=\"mol-para-with-font\">\u2018We don\u2019t want to be fast; we want to be agile and flexible. We don\u2019t want to be big, we want to be relevant,\u2019 she says, adding that the group \u2018want to be agents of change\u2019 in the sector.<\/p>\n<p class=\"mol-para-with-font\">It\u2019s a noble ambition on the surface \u2013 but sceptics might need more convincing, regardless of Inditex\u2019s bottom line.<\/p>\n<\/div>\n<p>Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.<\/p>\n<p><script async src=\"\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block; text-align:center;\"\r\n     data-ad-layout=\"in-article\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-client=\"ca-pub-8162386273903324\"\r\n     data-ad-slot=\"7859258044\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><a href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12095209\/Marta-Ortega-makes-mark-helm-Zara-family-dynasty.html?ns_mchannel=rss&#038;ns_campaign=1490&#038;ito=1490\">READ SOURCE<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dynasties are everywhere, from the Arnault family who run luxury giant LVMH to the Murdoch-esque siblings seen on Succession. Inditex \u2013 the biggest fashion company in the world and owner of Bershka, Massimo Dutti, Pull&amp;Bear and Stradivarius as well as its best-known Zara brand \u2013 is home to another. Founded in 1975 by Spain\u2019s richest [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":1228289,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_oct_exclude_from_cache":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-1228287","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.8 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marta Ortega makes her mark at the helm of Zara family dynasty - Business Telegraph<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12095209\/Marta-Ortega-makes-mark-helm-Zara-family-dynasty.html?ns_mchannel=rss&ns_campaign=1490&ito=1490\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Marta Ortega makes her mark at the helm of Zara family dynasty - Business Telegraph\" \/>\n<meta property=\"og:description\" content=\"Dynasties are everywhere, from the Arnault family who run luxury giant LVMH to the Murdoch-esque siblings seen on Succession. 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Founded in 1975 by Spain\u2019s richest [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12095209\/Marta-Ortega-makes-mark-helm-Zara-family-dynasty.html?ns_mchannel=rss&amp;ns_campaign=1490&amp;ito=1490\" \/>\n<meta property=\"og:site_name\" content=\"Business Telegraph\" \/>\n<meta property=\"article:published_time\" content=\"2023-05-17T20:57:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/05\/Marta-Ortega-makes-her-mark-at-the-helm-of-Zara.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"634\" \/>\n\t<meta property=\"og:image:height\" content=\"426\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"businesstelegraph\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"businesstelegraph\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12095209\/Marta-Ortega-makes-mark-helm-Zara-family-dynasty.html?ns_mchannel=rss&ns_campaign=1490&ito=1490#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/marta-ortega-makes-her-mark-at-the-helm-of-zara-family-dynasty\/\"},\"author\":{\"name\":\"businesstelegraph\",\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/#\/schema\/person\/0a3a6a0f58402f1f2af94e02d0987b78\"},\"headline\":\"Marta Ortega makes her mark at the helm of Zara family dynasty\",\"datePublished\":\"2023-05-17T20:57:28+00:00\",\"dateModified\":\"2023-05-17T20:57:28+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/marta-ortega-makes-her-mark-at-the-helm-of-zara-family-dynasty\/\"},\"wordCount\":1040,\"publisher\":{\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12095209\/Marta-Ortega-makes-mark-helm-Zara-family-dynasty.html?ns_mchannel=rss&ns_campaign=1490&ito=1490#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.businesstelegraph.co.uk\/wp-content\/uploads\/2023\/05\/Marta-Ortega-makes-her-mark-at-the-helm-of-Zara.jpg\",\"articleSection\":[\"market\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.businesstelegraph.co.uk\/marta-ortega-makes-her-mark-at-the-helm-of-zara-family-dynasty\/\",\"url\":\"https:\/\/www.dailymail.co.uk\/money\/markets\/article-12095209\/Marta-Ortega-makes-mark-helm-Zara-family-dynasty.html?ns_mchannel=rss&ns_campaign=1490&ito=1490\",\"name\":\"Marta Ortega makes her mark at the helm of Zara family dynasty - 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Inditex \u2013 the biggest fashion company in the world and owner of Bershka, Massimo Dutti, Pull&amp;Bear and Stradivarius as well as its best-known Zara brand \u2013 is home to another. 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