Inditex has unveiled the details of its new accessories chain, set to roll out this year.
Uterqüe, which means “both” and “each party” in Latin, will stock fashion accessories including handbags, footwear, leather goods and costume jewellery, as well as some leather apparel and other clothing. Most products will be manufactured in Spain.
Inditex will launch between 20 and 30 stores during the second half of this year in Spain, Greece and Portugal. The Spanish clothing giant said it might also enter some other international markets. The stores will be 2,150 to 2,690 sq m in prime shopping sites in major cities. Some will also open in shopping malls.
The Spanish clothing giant today revealed that, in the year to January 31, profits rose 25 per cent to €1.25 billion (£995.5 million). Sales increased 15 per cent to €9.44 billion (£7.52 billion). Like-for-like sales during the period were up 5 per cent.
In a statement, Inditex said it was “making a huge effort to set in train this project [Uterqüe], driven by a large multitasking team mostly comprising employees from other areas of the group”.
It added: “A fashion offer that experiences a continuous renewal, with new models every week and an excellent mix of high-quality and attractive prices, is the driving force behind Uterqüe”.
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