Inditex, the owner of Zara, a “fast fashion” retailer, designs 40,000 products a year that are shipped to stores twice a week. It has helped end the idea that fashion only has two big seasons a year. But the ever faster flow of frocks requires steady purpose in other dimensions of the business. It employs 900 folk in its design department, rather than outsource this function to fickle outsiders. It has persuaded its suppliers to accept payment in 160 days, twice as long as a decade ago. The manufacturers in its European network stick around for many years. Its assets are expected to last a decade and it invests twice as much per dollar of sales as its peer group. Its founder, Amancio Ortega, has held a controlling stake for 40 years.
