Zara owner Inditex’s net profits soared 22% to €2.3bn in 2012 as sales jumped 16% to €15.9bn.

Like-for-like sales rose by 6% over the year.

The fashion giant, which has over 6,000 worldwide, invested €1.4bn across 2012, most notably on logistics.

Inditex launched in five countries over the year, Armenia, Bosnia-Herzegovina, Ecuador, Georgia and theFormer Yugoslav Republic of Macedonia.

Inditex expects to increase its number of stores by between 440 and 480 in 2013.

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