Giants of fashion swim in the opposite direction in Spain. While the fashion system closed a black fiscal 2018 with a fall of 2.38% in sales, fashion kings rised its numbers in the country, representing 37.8% of the total and compared to the 36.15% of 2017.
Fashion kings stay above water in one of the worst years for Spanish fashion, that didn’t count with negative results since the beginning of the economic crisis. In 2018 Inditex, H&M and Primark’s aggregated turnover reached 6.6 billion euros (7.4 billion dollars), 2.17% more than in 2017.
The three giants continue to lead the Spanish textile commerce. Traditionally, sales of the three groups have evolved better than the revenue of the sector in Spain.
In 2018, Inditex, H&M and Primark’s aggregated turnover reached 6.6 billion euros (7.4 billion dollars)
Despite all, the giants of Spanish fashion have reduced their rhythm of growth, compared to 18.8% in 2014, 11.07% in 2015 or 7.51% in 2016.
In parallel, Inditex, H&M and Mango have backed the growth of chains in Spain, that positioned as leader in the distribution channel on the country, with a rise of 33.9%, compared to the deadlock of department stores and the downfall of multibrand.
In 2018, department stores rised 8.5%, compared to the 8.4% of the previous year. Outlets, on the other hand also standstill their share, with a rise of 15.1% compared to the 14.9% in 2017.
Multibrand positioned its share in 17.4%, on the low compared to the 19% registered last year, according to the Asociación Empresarial de Comercio Textil, Complementos y Piel (Acotex).
The King on the lead
In 2018, Inditex has supported the impulse of its local market. Despite the downfall in Spain in the last couple of years, Spanish giant occupies 68.18% of the aggregated sales for the three giants.
In its fiscal, the company’s revenue in the Spanish market was 4.5 billion euros (5.1 billion dollars), 3% more than last year. Sales of the group represented 16.3% of the total.
H&M on the other hand, kept its bet in Spain in 2018. The Swedish giant’s revenue in the country was 699.2 million euros (777.7 million dollars), 8.2% more. This said, Spanish market remains in the top regions for the Swedish group, occupying the eighth position.
Inditex occupies 68.18% of the aggregated sales for the three giants
However, these numbers are not 100% comparable, due to the fact that up until fiscal 2018, H&M published its results by countries including IVA, because of this the results vary compared to previous years.
Nevertheless, Primark has pointed its results in Spain in the low in 2018. Low cost Irish giant, reduced its results with a downfall of 3%, compared to the rise in 2017. However, this is not due to the group’s revenue in Spain, but because of its lows in its local market.