Zara property at Corso Vittorio Emanuele II acquired by Inditex

Inditex has reached a deal to buy the company that owns the Milan building which houses the Zara store at Corso Vittorio Emanuele II, 11, one of Europe’s most upscale shopping streets. The property became the site of Zara's first store in Italy in April 2002, and is one of the fashion retailer's largest and most prominent stores in the world.

Inditex decided to take advantage of a unique opportunity to buy the 4,500-m2 building, investing 103 million euros to cement its brand presence at a top-level retail location. The transaction does not herald a change in Inditex’s expansion strategy, which continues to focus primarily on opening stores under lease arrangements.

Inditex currently has nearly 300 stores in Italy. Eighty-eight of its Italian locations are Zara stores, which welcome shoppers in more than 50 cities across Italy.

Source : Inditex Press release