GLOBAL retail clothing group Inditex says its popular international fast-fashion brand Zara is heading to Australia next year.

Inditex chief executive Pablo Isla made the announcement at the company's annual meeting in Spain, The Australian reported.

"The company plans to open its first stores in Australia and South Africa in 2011," he said.

The Australian licence for Zara is held by Peter Lew, the son of retail mogul Solomon Lew.

News of Zara's arrival comes amid recent reports that another European clothing chain, Hennes & Mauritz, is scouting the Australian market as part of its push into the southern hemisphere.

Zara is considered to be the most successful retail fashion brand in the world.

Founded by Amancio Ortega - recently ranked by Forbes magazine as the 9th richest man in the world - the chain has nearly 1900 stores in more than 60 countries.

It is famous for identifying up to the minute fashion trends - about 10,000 new clothing lines a year - and having them in the stores within two weeks.

It also never advertises.

Such is the power of the Zara brand that it was once reportedly described by Louis Vuitton fashion director Daniel Piette as "possibly the most innovative and devastating retailer in the world".

A spokeswoman for Mr Lew declined to comment yesterday.

Zara's entry into Australia is expected to pose a big threat to local chains such as Witchery and Country Road.

"It's probably the number one success story in their category, in young ladies' fashion, for at least a decade," said retail veteran Michael Lloyd, publisher of Shopping Centre News magazine.

"I would say that in Australia, they will have the same success," he said.

Mr Lloyd said that when Zara opened a store in China last year, "it just murdered everything around it".

He does not expect any local brands to go bust but says "they're going to notice that the turnover Zara gets here used to be theirs".
POST : 2024-11-24    VIEW : 72425

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