Inditex acquires the premises of Zara’s flagship storeMonday, 18 June 2012
The Inditex Group, which owns Zara, Pull & Bear, Bershka,
and Massimo Dutti, has announced that it has acquired the premises of Zara’s flagship store at the intersection of Oxford Street and New Bond Street in London.
The 7,000-square-metre property, houses 3,155 square metres of retail space and 3,855 square metres of office space leased by third parties, and has been acquired at an investment of £155m from the German fund manager Deka.
“Inditex’s expansion strategy remains focused on opening stores on a leasehold basis,” the company added in a statement.
The acquisition is part of the group’s strategy to strengthen its position in the major fashion designations in the world, as well as the UK where it has 96 stores.