Spanish fashion takes on the world

 

Spanish fashion takes on the world

The Spanish fashion industry is enjoying one of its best ever periods right now as a whole host of companies spearhead the charge of the sector.

A powerful force in the economic life of the country, it accounts for 2.8 percent of GDP with a turnover of around €16,000 million each year. According to the Spanish Ministry of Industry, Energy and Tourism, more than half of Spanish companies in the textile sector are exporting. On average, 30 percent of production is destined for foreign markets.

As could be expected, this has had a positive impact on employment with 4778 new jobs accounted for in fashion and other related industries in 2014 alone. Fashion designers are scooping up awards in Spain. Sybilla has been noted for her success in influencing the new generation with her brand, and received the National Fashion award in 2015.

BRAND FOCUS

One of the reasons for the success of the industry is that a lot of smaller companies have gone down the route of basing their business models around ‘affordable luxury.’ This is something that Suarez offers with its Aristocracy brand. Jesus Peiro has also gone this way, making wedding dresses available at around €2500, a long way from the haute couture prices which can go deep into five figures.

With more than 2100 stores worldwide, Zara is definitely a fashion leader and is named as the 53rd most valuable brand in the world by Forbes. Just last year alone, the company opened 77 new stores. These included openings in LA, New York and Las Vegas. Recently, they increased the international reach of the brand further by announcing their first outlet in Australia.

Grupo Cortefiel has a presence in 83 countries with 2056 points of sale. Its sales reached one billion euros in 2014, an increase of 4.9 percent on the previous year. At the end of its financial year of February 28, 2015, it was able to announce it had opened 214 new stores in the previous 12 months.

Mango cannot be forgotten among these stories. It has over 100 stores around the world and currently employs more than 4000 people. The end of the 2014 financial year saw the brand create 2331 jobs worldwide, an increase of 17 percent on the previous year. Well over 600 of these jobs were in Spain. In that same year, it turned over 2.017 billion dollars, an increase of 9.3 percent on the previous year.

Other companies making headway by opening stores internationally include Pretty Ballerinas, Monica Vinader and Maya Hansen.

High Commissioner for Marca Espana, Carlos Espinosa de los Monteros said, ‘No other country has come this far in the fashion industry in the last 20 years.’ On the fact that around 20,000 shops around the world carry Spanish fashion products, he said, ‘This is quite something.’ Talking of the efforts of the business people building the industry, he said, ‘They have set the example with their ability to keep moving, going forward and going international.’

DON´T FORGET THE MODELS

Some of Spain’s models enjoy the distinction of being rated among the world’s best. Eugenia Silva has done her stuff on the catwalk for Yves Saint Laurent and Christian Dior and she has graced the cover of Vogue in America and Italy. Vanesa Lorenzo has been a big success with Gap, appearing in a huge advert at the exit of JFK Airport and in Times Square, New York. Other successful Spanish runway models include Esther Cañadas, Inés Sastre, Laura Pone, Nieves Álvarez, Judith Mascó and Verónica Blume.

For more information please contact corporate law firm Argali Abogados.

 

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