Spanish Textile Group plans to land in South Korea
The Spanish textile group Inditex sells the Zara clothing brand. On Tuesday, the company claimed that the company plans to enter Asia in 2008 to expand its business. The company intends to open sales outlets in South Korea. A statement from the company said that entering the Korean market will be one of the most important development tasks in 2008, and the development of China and Japan is also very important. Due to their economic importance and development potential, these three countries have become the company’s main Asian centers. The statement stated that the business outlets in Seoul will open in May. Inditex has established the company's first store in Ukraine, Egypt and Monetenegro. In order to land in Asia, the company has made preparations for several years, but in 2007 the company's new shopping malls were still opened in Russia and Eastern Europe. In 2007 the company opened its first store in China. The group hopes that the company’s business in Asia will account for 15% of the company’s sales in 2009, compared to 8.9% in 2006.