Zara’s secret weapon

Linda

Hall

AS International Women’s Day approaches, Marta Ortega prepares to celebrate her first year as Inditex president.

She is the 39­year­old daughter of Amancio Ortega, Spain’s richest man and one of the richest in the world, who founded the Inditex empire based on the Zara clothing chain.

Kantar, which ranks world brands, placed Inditex at the head of Spain’s top brands in 2022 for the fifth consecutive year, ahead of Movistar, Iberdrola or Santander.

Ortega’s daughter succeeded Pablo Isla, who twice received Harvard Business Review’s Best­performing CEO award. He was Inditex’s executive

SPAIN’S gender pay gap grew to 25.5 per cent in 2021 according to Gestha, which represents tax authority Hacienda’s employees.

The union’s Brecha salarial y techo de cristal (Salary Gap and the Glass Ceiling) found that on average men took home €4,713 more than women in 2021, an increase of €120 on the preceding year.

Gestha noted that the difference in earnings was accentuated in 2021 owing to a reduction in the number of furloughed workers during the pandemic.

Short straw

THERE are twice as many women working on temporary contracts in Spain’s public sector than men. By the last quarter of 2022, 352,300 men and 712,000 women were not established workers, announced the CSFI union which represents public sector employees.

These figures were practically identical to those of pre­pandemic levels, the CSFI said, and indicated the existence of greater instability than in the private sector, where there were fewer situations like these. Women taking leave of absence to look after family members quadrupled the number of men, with six times as many likely to reduce working hours, the union added.

president between 2012 and 2022 and when the company announced in November 2021 that Ortega would take over as executive president in April 2022, share prices fell sharply. Nevertheless, last year’s results have been hailed as ‘spectacular’. With net profits of €3.1 billion in 2022 and a 19 per cent increase in sales, Amancio Or­ tega’s daughter demonstrated the wisdom of a meticulous strategy which began in 2011.

After finishing a degree in Business Studies in London, she began working at the age of 23 in Zara’s Chelsea branch, before moving on to Bershka and eventually to the Inditex head office in Arteixo (La Coruña).

There was never any doubt that Ortega, described by the Wall Street Journal as “Zara’s secret weapon,” would take over from her father.

“She has lived the business from the inside, alongside Amancio,” journalist Jesus Salgado Alvarez said recently.

“He saw that they shared the same interests. She was the one, and insiders never questioned her appointment.”