MADRID: The Spanish textile group Inditex, which markets the Zara brand of clothing is to open its first outlets in Egypt, Ukraine and Monetenegro.
However, Inditex said Tuesday it was counting on Asia to boost growth in 2008 and disclosed plans to set up operations in South Korea.
Entry onto the Korea market will be one of the most important developments in 2008, along with growth in China and Japan, a company statement said.
These three countries, because of their economic importance and the growth potential they represent, make up the principal (Asian) focus of the company, it said, adding that it would begin operations in Seoul in May.
The thrust into Asia has been pursued by Inditex for several years, although in 2007 most of its new stores were opened in Russia and eastern Europe.
Its first shop in China opened its doors in early 2007.
The group wants to see Asia account for 15 percent of its sales by 2009, against 8.9 percent in 2006. -AFP
