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    ITX   ES0148396007

INDITEX

(ITX)
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Delayed Bolsas y Mercados Espanoles  -  11:38 2022-12-02 am EST
25.29 EUR   +0.48%
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11/30Fashion retailer H&M to cut 1,500 jobs
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11/30Sweden's H&M to lay off 1,500 staff in drive to cut soaring costs and rescue profits
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India's Reliance launches first in-house premium fashion store

09/29/2022 | 01:45am EST
 An employee wearing a face mask stands outside the Azorte, a fashion and lifestyle store of Reliance Industries Ltd, during its launch in Bengaluru

BENGALURU (Reuters) - Reliance Industries Ltd's retail unit launched its first in-house premium fashion and lifestyle store on Thursday, as the billionaire Mukesh Ambani-led company continues to grab a bigger slice of India's luxury market.

The new store chain called Azorte, the first of which was launched in Bengaluru, will compete with the likes of Mango and Industria de Diseno Textil SA-owned Zara, and cater to millenials and Gen Z.

"The mid-premium fashion segment is one of fastest growing consumer segments as millennials and the Gen Z are increasingly demanding the latest of international and contemporary Indian fashion," Akhilesh Prasad, chief executive of the fashion and lifestyle arm of Reliance Retail, said.

The launch is a part of the Ambani company's aggressive strides in the retail industry, forging partnerships with domestic and global brands.

The company plans to build a portfolio of 50 to 60 grocery, household and personal care brands within the year and is in advanced talks to get the rights for LVMH-owned French beauty brand Sephora in India.

Reliance's luxury and lifestyle foray has been led by Ambani's daughter Isha.

(This story refiles to remove extraneous word in headline; no change to text)

(Reporting by Nandan Mandayam and Nivedita Bhattacharjee in Bengaluru)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
INDITEX 0.48% 25.29 Delayed Quote.-11.36%
LVMH MOËT HENNESSY LOUIS VUITTON SE -0.79% 715.3 Real-time Quote.-1.61%
RELIANCE INDUSTRIES LTD -0.04% 2722.15 Delayed Quote.14.95%
THE LIFESTYLE GROUP S.P.A. -5.88% 0.0048 Delayed Quote.-98.65%
All news about INDITEX
12/01Analysis-Retailers turn to robots in cost inflation fight
RE
11/30Fashion retailer H&M to cut 1,500 jobs
RE
11/30Sweden's H&M to lay off 1,500 staff in drive to cut soaring costs and rescue profits
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11/30INDITEX : Barclays reaffirms its Neutral rating
MD
11/29INDITEX : Goldman Sachs gives a Buy rating
MD
11/28INDITEX : JP Morgan reaffirms its Buy rating
MD
11/25Zara shopworkers stage Black Friday strike in fashion group's hometown
RE
11/25Store Workers Across Inditex Brands In Spain Go On Strike To Demand Higher Pay Raise
MT
11/24Zara workers in Spain start protests to demand higher pay
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11/21INDITEX : Goldman Sachs keeps its Buy rating
MD
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Analyst Recommendations on INDITEX
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Financials
Sales 2023 31 063 M 32 571 M 32 571 M
Net income 2023 3 887 M 4 076 M 4 076 M
Net cash 2023 8 645 M 9 065 M 9 065 M
P/E ratio 2023 20,2x
Yield 2023 4,47%
Capitalization 78 695 M 82 516 M 82 516 M
EV / Sales 2023 2,26x
EV / Sales 2024
Nbr of Employees 153 488
Free-Float 35,4%
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Technical analysis trends INDITEX
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TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 28
Last Close Price 25,29 €
Average target price 27,44 €
Spread / Average Target 8,49%
EPS Revisions
Managers and Directors
Oscar García Maceiras Secretary, Executive Director & General Counsel
José Ignacio Fernández Chief Financial Officer
Marta Ortega Pérez Non-Executive Chairman
Gabriel Moneo Marina Chief Information Technology Officer
Carlos Crespo González COO, MD-Sustainable & Digital Transformation
Sector and Competitors
1st jan.Capi. (M$)
INDITEX-11.36%82 516
KERING-20.82%71 909
FAST RETAILING CO., LTD.24.58%61 440
ROSS STORES, INC.3.24%41 300
HENNES & MAURITZ AB-32.22%18 945
BURLINGTON STORES, INC.-31.32%12 959