PARIS – Zara parent company Inditex is showing resilience amid global economic jitters.

Inditex Profits Gain The Spanish fast-fashion company reported net profits rose 24 percent in the primary nine month of the fiscal 12 months, reaching 3.1 billion euros.

Between Nov. 1 and Dec. 8, store and online sales increased 12 percent at constant exchange rates versus the identical period in 2021.

“In the present difficult context, these results clearly reflect the strength of our unique business model: fashionable collections, an appealing shopping experience and a team highly committed to achieving profitable and more sustainable growth,” said Inditex chief executive officer Oscar Garcia Macieras.

EBITDA in the primary nine months was up 20 percent to six.5 billion euros.

This all comes as Zara is trying to remodel its fast-fashion status by upping prices – greater than 5 percent since spring in anticipation of inflationary pressures – and upscale its offering since founder Amancio Ortega’s daughter Marta Ortega took over as chair on April 1.

Zara has been trying to reframe its offerings with high- profile designer collaborations, including model Kaia Gerber, iconic Nineteen Nineties designer Narciso Rodriguez, Studio Nicholson and former Lanvin jewelry desiger Elie Top.

The brand new Zara positioning comes just as Inditex closed its more upscale Uterque brand stores earlier this 12 months.

The worth increases didn’t quite offset the climb in operating expenses, which were up 17 percent. The group is seeing to tighten its belt on operating expenses going forward, but flagged 10 billion euros in money reserves.

In search of to get ahead of the supply-chain curve, the corporate increased its inventory inflow going into the 12 months, which resulted in 27 percent increase of stock as of Oct. 31.

Inditex, which also owns Pull & Bear, Massimo Dutti, Bershka, Stradavarius and Oysho brands, credited its resilience to a tighter supply chain with in-season production and near-shoring of its sourcing. The corporate has been heavily investing in updating stores, in addition to specializing in omnichannel integration.

Online sales proceed apace and are expected to account for greater than 30 percent of total sales by 2024.