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Hello

In: Business and Management

Submitted By jennieyoonhere
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CURRENT GLOBAL STRATEGY & SUGGESTED FUTURE STRATEGY
Zara’s success is as much a result of its history and location as of its counter-intuitive timely business strategies. In less than 30 years, Zara went from a local brand to a global brand and ranked as the 73rd in the list of the world’s 100 top brand by Interbrand. As mentioned previously, key success factors for Zara are: short turnaround time for concepts to reach the market, smaller quantities per style and many more styles during the year. Further, the elements supporting the successful factors are: extensive research providing constant inputs into the product development process, locating business functions close to headquarters for tight control and finally Zara’s advanced communication and technology. This model was carried out to 59 countries with 852 stores, where the international sales accounted for 69% of total turnover. In the initial stages, Zara followed the ethnocentric strategy where Zara measured other cultures against their own and sought what was most ideal. By encountering difficulties in some countries due to cultural differences, Zara quickly adapted and changed its strategy to geocentric strategy. Further, similar to the domestic market, all Zara’s shops were set up in prime locations, and standardized key strategic elements such as window display, interior design, layout, customer service and logistics.
The internalization process of Zara focuses on the three factors: motives, market selection and entry options. The pull factors Spain’s entry into the European Union in 1986 gave the opportunity for Zara to expand internationally via potential economies of scale. On the other hand, the maturity of the market and with increased time spent on traveling and education for Spanish consumers were Zara’s push factors to expand internationally. Consequently, Zara followed the classic expansion model, where it entered cultures and geographic that is similar to Spain then further added one to two countries per year in the market portfolio. Finally, Zara’s international expansion adopted the direct investment strategy, joint ventures and through franchising.
Zara has found its way of understanding the fashion world and the demanding consumer. However, any other company that sells high fashion for low prices and offer constant new merchandise is set to do well in the marketplace, and others may soon to replicate Zara’s model. Zara’s short supply chain should be replicated in North America (Mexico) and Asia (China) to further cut back from their FOB (Freight On Board) price and gives the ability for Zara to cut back on prices in the international locations. Zara’s current model can only last for so long with huge competitors who are quickly catching up. This would further serve those who are generally more price sensitive, such as North America and the Asian markets.

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[ 1 ]. Carmen Lopez, Ying Fan, (2009),"Internationalization of the Spanish fashion brand Zara", Journal of
Fashion Marketing and Management, Vol. 13 Iss: 2 pp. 279 - 296
[ 2 ]. Fabrega, F. (2004), Zara. El modelo de negocio de Inditex, Claves de gestion, Madrid.…...

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