Jul 20, 2016
Payment: Inditex adopts its own dedicated app
Jul 20, 2016
The parent firm to Zara announced the deployment of InWallet, an electronic money wallet which allows payment for purchases across the group's stores in Spain. Adding to this, is the installation of mobile payment applications for all stores, to enhance the m-commerce activity.
InWallet is an application entirely developed in-house, with the goal of simplifying product purchases and returns. Customers can activate the service directly from the online app, adding the payment cards they want to use on the account in a safe and secure way.
Executive director, Pablo Isla, announced to shareholders a deployment of a new technology RFID (radio frequency identification), which will spread across the Zara network by the end of the year, with other stores receiving the technology by the beginning of next year.
The Spanish group also announced 2,000 clothing bins will be set up across Spanish stores for the collection of used apparel. It's part of the firm's Environmental Strategy Plan 2011-2015, in partnership with Caritas.
To assist, Inditex has signed an exclusive agreement with Lenzing, the Austrian producer of the plant-based sustainable textile fibre Lyocell Tencel, for the manufacture of premium textile raw materials from textile waste generated by Inditex. The goal is to reuse 3,000 tonnes of material.
For the year ending January, Inditex reported a 15.4% revenue increase, reaching 20 million euros, with organic growth up 8.5%.
In the first quarter of the current year, growth continued with a 12% revenue gain, and 17% at constant exchange rates.
The group network, including Zara, Massimo Duti and Bershka, accounts for 7,085 points of sale. Last year, Inditex employed 15,800 staff, of which 4,120 were in its country of origin.
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