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(Zara Founder) Amancio Ortega net worth 2018 (Updated)

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ZARA is a Spanish multinational clothing company which dominates the world in the field of fashion. It is the world’s largest apparel retailer in the world. It is the main brand of the inditex group. In this blog, you will know the Zara founder Amancio Ortega net worth 2018 (updated), personal life, Zara’s expansion and stores.

Amancio Ortega Net Worth 2018 | The Man Behind Zara

(Zara Founder) Amancio Ortega net worth 2018
(Zara Founder) Amancio Ortega net worth 2018

Amancio Ortega Gaona is a Spanish billionaire businessman who was born on 28 March, 1936 in Busdongo de Arbás, León, Spain. He was born to Antonio Ortega Rodríguez and Josefa Gaona Hernández.

In 1966, he married Rosalia Mera and later divorced in 1986. Rosalia Mera died in August 2013 at the age of 69. In the year 2001, he married to his second wife Flora.  This amazing couple have three children. In 2017, Amencio Ortego shifted to La Coruna, Spain with his wife.

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Her laugh means the world to me.

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He is the founder and former chairman of Inditex fashion group, best known for its chain of Zara clothing and accessories shops.

Startup

ZARA Store was first opened by Amencio Ortego in 1975 in central Spain. Ortego initially named this store as Zorba behind a film named Zorba the Greek.  

The first store featured low-priced look alike products so, he  changed the design Ortega changed the design, manufacturing, and distribution process to reduce lead times and react to new trends in a quicker way, which he called “instant fashions”.

The improvements included the use of information technologies and using groups of designers instead of individuals.

Expansion

The company started expanding their products around the World by 1988. They firstly expanded through Portugal and then to United States in 1989 and then France in 1990.

By the Early 90’s, ZARA expanded to Mexico, Belgium and Sweden and then by 2000’s They entered to Asia which covered Japan, China, Estonia etc.

Zara Founder net worth 2018

On September 2010, ZARA launched their online Boutique which covered first European countries and then gradually covered other regions of the World.

Products and Design

ZARA stores contain  men’s and women’s clothing and accessories as well as kid’s clothing. The products are based on the consumer trends in which all of the clothing are processed through the distribution center in Spain. It produces around 450 million items per year.

In case of Design, ZARA launches around 12,000 new designs each year. The company believes in opening new stores instead of advertising.

Store

There are over 2,200 ZARA stores across the world in 96 global markets.

Amancio Ortega net worth 2018 (Updated)

Amancio Ortega net worth 2018 has been estimated to be around US78 billion (INR 5,48,539 crores).

He is the second-wealthiest person in Europe after Bernard Arnault, and the fifth-wealthiest in the world as of October 2018.

He is also the wealthiest retailer in the world.

According to the Bloomberg Billionaires Index, Amancio Ortega net worth 2018 has increased $11.6 billion thus far in 2017, compared to a rise of $3.36 billion for Bill Gates and $17.7 billion for Amazon founder and CEO Jeff Bezos.

 

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