Inditex

“So they spend like less than one percent of it's estimate less, less than one percent of their revenue on marketing and advertising.”

“And so there was a Harvard case study written about Inditex before they went public that two million people read.”

“So Ortega was never photographed. Only his friends, families, and coworkers knew what he looked like. This is before Into Texco's public.”

“Zara's main advantage is an astonishing ability to detect fashion trends, assimilate them, make them a reality on the hanger at a bargain price inside of a store that's conveniently located all in less than 15 days.”

“I saw it very clearly from that day onwards. I would start working to earn money and help at home. I quit school, left my books and got a job as an assistant in a shirt store.”

“Optimism can be very negative. You have to take risks. This was something I repeated tirelessly to all those who have joined the company.”

“They almost bought Sephora before LVMH buys it.”

“Ortega's company renews its clothes in stores around the world every week and twice weekly in Europe.”

“He says, we are a chain of stores with a company attached. We live. So that the store is focused on selling. All the rest of us are at your service.”

“And what I would share, what I think Henry Ford and Ortega share is that they really built their career on one idea... The existing fashion industry already knew how to make clothes fashionable and expensive. Ortega is going to invent the process to make them …”

“He was convinced. That if he managed to complete the cycle, meaning completely integrated, he could reduce the margins by between 70 and 80%, which would clearly affect the price the end consumer had to pay for each garment.”

“That's the quote computerized the company. And he does this in 1974 before he has. The first Zara store.”

“Ortega came to administer a holding company of 99 companies. It's gotta be bigger than this now. Of 99 companies that guarantee complete vertical integration, covering not only the textile and clothing sections, but also logistics, marketing, construction, rea…”

“His net worth today is around one hundred and twenty billion dollars. He owns 60% of a publicly traded fast fashion company called Inditex with Zara being a most well-known brand.”

“So Zara also produces in those countries, but more than half of Zara's production comes from what they call proximity.”