Zara shareholders come up with 3m euros to develop Romanian stores

Spanish group Inditex, owner of the Zara clothing brand, has increased the share capital of two of its local divisions, Zara Home and Massimo Dutti RO by three million euros at the end of last year, according to data published by the company in the Official Gazette.

The reason is to develop the company's business in Romania, as Inditex representatives say, in the context where the market is in dire need of cash, with many players either suspending expansion projects or seeking to make their businesses more efficient.

"The group has developed a strong chain in Romania over the last two years, seven brands that together make up 40 stores. However, expansion does not stop here, and the capital increase can only be a good sign in this respect," company representatives say.

Inditex brought seven of its eight brands onto the Romanian market, Zara, Bershka, Stradivarius, Pull&Bear, Oysho, Massimo Dutti, and Zara Home, with the latter two targeting a higher-income segment.