Zara owner to launch two new brands in Hungary
Inditex to launch two new brands in Hungarian market
Spanish corporation Inditex, the parent company of Zara and renter of the Luxus Shopping Center located at Budapest's Vörösmarty tér, will launch two new brands in Hungary, reports napi.hu.
Renovation works on the building will soon be completed, and the store can open by November, offering products by Bershka and Stradivarius.
La Coruna-based Inditex opened its first store in Hungary in 2004, and since then has appeared in every major town and shopping center. Its arrival in Váci utca revamped the marketing habits of the street's fashion stores, since smaller shops generally follow Zara with their promotions and sales.
Inditex operates a total of 1,030 stores in 66 countries around the world. In addition to its leading brand Zara, it also operates the chains Skhuaban (children's clothing), Pull and Bear (youth), Massimo Dutti (men's and women's clothing), Oysho (women's lingerie) and Zara Home (home improvement).
Bershka, one of the brands soon to be introduced in Hungary, was founded in 1998 and targets young men and women. Inditex also purchased the Stradivarius chain, which targets women, in 1999. Both companies are based in Barcelona. Bershka has stores in 29 countries, while Stradivarius operates in 19.
Earlier, some business participants speculated that German fashion multinational Peek & Cloppenburg was also eyeing the Luxus Shopping Center, but the building's owner, Capital Zrt. denied this.
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