Global retailers Zara, renowned for its effective production and delivery systems and "empire" Wal-Mart, the retailer that posted more than $14 billion in net profits for the year-to-date January 2010 have plans to enter South Africa in 2011 will most definitely agitate the current apparel retail landscape.
ZARA: Spain is returning to South Africa in the form of Zara the international retail chain that is renowned for its efficient production and delivery systems. The announcement was made at Inditex's annual shareholder's meeting. Inditex is the world's largest fashion retailer by sales. In addition to its global expansion Zara will be launching online stores in Asia, USA and in Europe. Zara currently has 4705 stores in 76 countries. Pablo Isla, Deputy Chairman and CEO of Inditex, highlighted the company’s satisfactory sales performance for 2009, with sales at constant exchange rates climbing 9% to €11,084 million. Net income at Inditex rose 5% to €1,314 million.
WAL-MART: Currently operating in 15 foreign territories and posting revenue of $408.2 billion for the year to January 2010 is according to reports seeking to establish ties with an existing South African retailer to ease its entry into the South African market. Its domestic (US) apparel sales in 2002 were $20 billion. Wal-Mart accounts for nearly 30% of total apparel imports into the US from Bangladesh.
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