SYDNEY: Spanish fashion group Inditex has created a joint venture with Premier Investments to enter the Australian market.
According to Spainbusiness.com, Inditex’s holdings include Zara, Zara Home, Bershka and Massimo Dutti.
Premier Investments is owned by business tycoon Solomon Lew.
“The two companies have created Zara Australia, in which the Spanish fashion group will have a dominant 80 percent stake, while the remaining 20 percent will be owned by its Australian partner,” Spainbusiness.com said.
The first Zara store will open in the first half of 2011 in Sydney, with a second store in Melbourne following short after.
Source: Spainbusiness.com
