Zara reports slowest growth in four years

Fast Fashion magnate, Inditex SA Group, owner of Zara, reported a slow demand for the first quarter of 2013 - the slowest growth in the last four years, reports Pambianco News.

ZaraRepresentatives of the company claim the group earned 3.6 billion in net sales, which signals a 5 percent growth from the previous year. Net income was also reported to have grown at only 2 percent, to 438 million euros. 

Just this year, Inditex had expanded itself to a wider variety of international locations, starting with Zara Home in Japan and Panaman, Oysho in Colombia and Panama, Stradivarius in the Philippines, and Bershka in the Philippines and Tunisia. 

Inditex is based in Arteixo, Galicia, Spain, and holds brands: Zara, Oysho, Bershka, Massimo Dutti, Stradivarius, Pull and Bear, Uterque, and Tempe.