Amancio Ortega
He grew up in Ortega in middle-class circumstances with his parents. While still at school, at the age of 14, Ortega earned his pocket money through small jobs at a clothing company in La Coruna. After finishing school and completing commercial training, he started his entrepreneurial career in 1963 with a tailoring shop for bathrobes. The program was quickly expanded and brought the young entrepreneur his first big profits. Meanwhile, he married Rosalia Mera. Together they became parents to a disabled son. In 1972 he founded his first clothing line under the label "GOA". The name came from his initials read backwards. The company's aim was to offer current fashion at a low price but in a modern and elegant atmosphere.
After a short time, "GOA" expanded into Europe. The entrepreneur then founded the company Intex (Industrias de Diseno Texil Sociedad Anónima) together with his wife Rosalia in the mid-1970s to produce and directly market clothing through their own retail chains. On December 24, 1974, the company was expanded to include the "Zara" brand. In 1975, the first Zara store was opened in the pedestrian zone in Ortega's hometown of La Coruña. From here on, the company experienced an unprecedented success story, which resulted in rapid expansion. Within five years, Zara was represented in all Spanish cities. In 1985 the company was expanded to include brands such as "Mango", "Massimo Dutti" and "Pull & Bear" and was reunited to form the Inditex Group.
In 1986, Ortega married Flora Pérez Marcote for the second time. The first non-Spanish Zara store opened in 1988 in Porto's pedestrian zone. New York followed in 1989 and Paris in 1990. Through strategic communication and marketing, the fashion chain Zara established itself as a live-style brand with international recognition despite its low-price offering. High-quality materials and ultra-modern cuts made it possible to build a global retail chain for our own production goods. The company went public in 2001. As early as 2005, the Inditex Group had around 700 Zara stores in over 55 countries around the world. The company, with around 45,000 employees, achieves annual sales of around 5 billion euros. In total, the company had 8 retail chains serving around 2,500 branches.
Privately, he supports social institutions for mentally handicapped children, such as the Spanish "Padeia" organization, which his first wife runs. In 2001 he also founded the "Amancio Ortega Foundation" to promote research, science and education. According to estimates by the American Forbes Magazine, his fortune was around US$12.6 billion in 2005, making Ortega the 23rd richest person in the world.
After a short time, "GOA" expanded into Europe. The entrepreneur then founded the company Intex (Industrias de Diseno Texil Sociedad Anónima) together with his wife Rosalia in the mid-1970s to produce and directly market clothing through their own retail chains. On December 24, 1974, the company was expanded to include the "Zara" brand. In 1975, the first Zara store was opened in the pedestrian zone in Ortega's hometown of La Coruña. From here on, the company experienced an unprecedented success story, which resulted in rapid expansion. Within five years, Zara was represented in all Spanish cities. In 1985 the company was expanded to include brands such as "Mango", "Massimo Dutti" and "Pull & Bear" and was reunited to form the Inditex Group.
In 1986, Ortega married Flora Pérez Marcote for the second time. The first non-Spanish Zara store opened in 1988 in Porto's pedestrian zone. New York followed in 1989 and Paris in 1990. Through strategic communication and marketing, the fashion chain Zara established itself as a live-style brand with international recognition despite its low-price offering. High-quality materials and ultra-modern cuts made it possible to build a global retail chain for our own production goods. The company went public in 2001. As early as 2005, the Inditex Group had around 700 Zara stores in over 55 countries around the world. The company, with around 45,000 employees, achieves annual sales of around 5 billion euros. In total, the company had 8 retail chains serving around 2,500 branches.
Privately, he supports social institutions for mentally handicapped children, such as the Spanish "Padeia" organization, which his first wife runs. In 2001 he also founded the "Amancio Ortega Foundation" to promote research, science and education. According to estimates by the American Forbes Magazine, his fortune was around US$12.6 billion in 2005, making Ortega the 23rd richest person in the world.
