Inditex had to close 88 percent of its stores during the pandemic, leading to a loss of €409m. On the brighter side of an overwhelmingly negative situation, its online sales increased by 95 percent in April, inspiring the Spanish fashion retailer to accelerate the speed at which it digitalizes its business. This involves closing down its up to 1,200 stores and increasing the size of its digital presence.
Inditex aims to integrate its online and store operations using RFID technology. This allows each garment to be tracked from factory to point of sale using Inditex’s own technology platform, which currently controls 60 percent of the group’s business.
