In January I was browsing the Bloomberg Billionaires and was shocked to see the 3rd richest individual in the world (displacing Warren Buffet) was the founder of Zara. I became insatiably curious about how this self made founder of a clothing brand, that does not even have a store in Seattle, much less Portland, could become so wealthy.
When NPR did a segment on The Reclusive Spanish Billionaire behind Zara, I tuned in.
It is interesting to note that Zara embodies a few core Apple-like traits:
- Methodical focus on Supply chain efficiency; 15 days from design to shelf.
- Vertically integrated; tightly controlling supply chain from factory to retail.
- Spending relatively little on advertising, instead focusing on flagship stores.