Zara, which is ranked at number 51 for the World’s Most Valuable Brands, according to Forbes List 2017, is a Spanish fast fashion retail brand introduced in 1975. It has since grown to be known around the world and loved by everyone. With the fashion industry being so vulnerable to new competitors and increasing competition, Zara has been able to maintain its growth and position in the industry and serves millions of people around the world.
There are few reasons why Zara has been able to maintain its position among the competition. One of these is the fact that it has always been adaptable to the new trends, which is one of the vital factors in the fashion industry. Zara has been able to convert latest fashion into products and meet the needs of their customers. They have a whole team that deals with meeting the latest fashion trends and thus delivering fast fashion products to their customers. They also ensure that by traveling around the world and then picking latest trends, enabling them to adapt different cultural designs and target customers all around the world. Moreover, the designs that appear on fashion weeks are also made available to their customers within two weeks. This is made possible due to fact that Zara has developed its own manufacturing and designing units in addition to the selling units. This makes them easier to develop and make the latest fashion products available at stores.
Another important factor is that Zara deals with providing fashion products, which are in accordance with the latest trends but at a less price compared to their competitors. Due to this factor they are able to attract customers from all income and age brackets increasing their customer base and satisfy the needs of their customers at a reasonable price.
Zara has a very strong supply chain because they do not outsource any of their operations, and because of that they are able to deliver high quality and various varieties of products. Thus, Zara’s store carries diverse range of products at all times as compared to other competitors. Also, they make sure they keep their inventories low. This makes it possible for them to always have new designs in their stores, thus offering newer choices to their customers every time they visit Zara’s outlet. This also helps them reduce waste and always sell of their new designs as they are introduced in the stores. Moreover, they always have excess capacity in case they have extra demand for any of their product; they are able to deliver to that demand in a short period of time.
All these factors are the reason why Zara is considered a valuable brand around the world and its growth rate is maintained over the years. It is commendable that they have been able to maintain their position in the ever growing market of fast fashion industry.
References
Madden, A. (2017, July 29). 19 Fascinating Facts You Never Knew About Zara. Retrieved December 28, 2017, from https://www.popsugar.com/fashion/Zara-Facts-37094189
Zara’s Secret for Fast Fashion. Retrieved December 28, 2017, from https://hbswk.hbs.edu/archive/zara-s-secret-for-fast-fashion
Zara on the Forbes World’s Most Valuable Brands List. Retrieved December 28, 2017, from https://www.forbes.com/companies/zara/
Loeb, W. (2015, March 30). Zara Leads In Fast Fashion. Retrieved December 28, 2017, from https://www.forbes.com/sites/walterloeb/2015/03/30/zara-leads-in-fast-fashion/#1deb44ec5944