Enjoy fashion chain Zara on fast track
Back to the Australian branch of the Spanish retail giant jumped to $ 106.8 million for the year to January that its continued implementation of these transactions.
Net income increased $ 9300000-18000000.
Fashion chain focused on the youth opened three new stores in the past year to take its network to six, hiring 160 new employees in the process.
The number of Zara is now at 482
The accounts reveal the Australian subsidiary has paid $ 7.7 million in taxes - nearly double by the global Internet giant Google, which paid a turnover of $ 2 billion generated in Australia last year.
Zara results are in stark contrast to the established brick and mortar retailers in Australia, have suffered landslides net profit in recent years.
Myer net profit fell by more than 14 percent to $ 139.3 million last year.
Worse, however, was with rival David Jones annual profit by 40 percent to $ 101 million.
Zara, which opened its first store in Australia in April 2011, has been at the forefront of a violent increase in the local market in a variety of brands of foreign distributors.
British retailer Topshop and U.S. CAP marks are among the invaders, while the European fashion mogul H & M opened its first store early next year.
Zara has quickly cemented as a profitable business in Australia.
In 2010, he posted an annual loss of 1.4 million euros - before the opening of its first store in Sydney - but it was in the black a year later with an annual income of $ 9.3 million from three stores.
The Australian Zara chain is 20 percent by Peter Lew, son of King Solomon Lew cloth trade possession.
Premier Investments Solomon Lew group owns Just Jeans, Portmans and Dotti bands.