Zara, the fast-fashion retailer that’s a favorite among celebrities, is shifting its focus to online shopping. According to Business Insider, Inditex, the brand’s parent company, announced it intended to close the doors of nearly 1,200 Zara stores by 2022.
As reported by The Guardian, Inditex confirmed that Zara, along with other stores — including Bershka, Pull & Bear, and Massimo Dutti — would be part of the planned closures. These changes will reportedly focus on stores located in Asia and Europe.
Sharing news of the planned closures on Wednesday, June 10, Inditex confirmed that it now intends to shift its focus to online shopping. The company expects that by 2022, online sales will account for more than 25% of its profits. Currently, online sales account for 14% of its total profits.
The Guardian adds that there’s been company-wide impact on brick-and-mortar sales due to