From the retail issue: Zara founder Amancio Ortega’s empire is rooted in retail, so it’d be no surprise if it were going the way of the current market: rapidly downhill. But as competitors like Bebe, BCBG Max Azria and the Limited fall like dominoes and corporate retailers shed real estate assets amid the great retail recession, Ortega appears to be headed in the opposite direction.
In April, Zara announced it would open its largest store, a 65,000-square-foot behemoth, in the heart of Madrid’s financial center, Paseo de la Castellana. The same month, the discount retailer announced its biggest location in the United Kingdom, a 41,731-square-foot storefront in London’s Westfield Shopping Centre. [more]