Spanish fashion giant Inditex is embarking on expansion in Italy, and aims for a 120-strong store portfolio.
The retailer is understood to be investing EUR200 million (£133 million) in Italy over the next five years. A spokesman said: 'We are in all the main markets in Europe, but in Italy we have a low presence.'
Inditex entered Italy in 2002 through a joint venture with Gruppo Percassi, and will up its stake in the enterprise to 80 per cent. There are 16 Italian Inditex stores, under the Zara, Bershka and Oysho fascias.
Inditex is also increasing its stake in its Japanese joint venture to 85 per cent. The spokesman said Inditex could have 35 stores in Japan by 2008.