Zara Mission Statement Analysis

Background, mission statement, vision and values

Zara is a Spanish clothing and accessories retailor and large international popular fashion brand that belongs to Inditex, one of the worlds largest distribution groups and parent company to various other well-established brands (Zara, n.d). Amanico Ortega founded the Zara store in 1975. Ortega decided that he wanted to develop his small factory, and therefore proceeded to open the first Zara store in the small Spanish costal town of La Coruna (Zara, n.d). The first store sold low-priced lookalike products of popular, higher-end fashion brands, which proved to be successful. Ever since opening the first store, the Zara brand experienced rapid growth and popularity especially amongst young people

Zara has over 2000 stores located in leading cities across 88 countries (Inditex, n.d.). The stores are usually situated in upscale locations as their strategy is to be seen as close to a luxury brand as possible with its mid-range affordable prices (Zara, n.d.). “Zara offers cutting edge fashion at affordable prices by following the most up-to-date fashion trends and identifying consumers’ demand, and quickly getting the latest designs into stores” said by their brand positioning statement. Their target market is people who are young, price-conscious and sensitive to the latest fashion trends (Harbott, 2011). They see the ideal individual consumer as being self-assured, stylish and unique. Zara has segmented their product line prioritising women’s with 60%, men’s at 25% and children’s with 15% (Harbott,

Essentially the experience comments on the loyalty of the brand, in satisfying the consumer needs and wants - with a promise. Zara’s brand experience is said to have four different components, including: Impression, communication, responsiveness and resilience (Anand, 2014).

The first element involves a customer perception such as, "I like what the brand has to offer” and the effectiveness of a brands plan for success has to consider their customers in all decisions made (Anand, 2014). In other words - Zara must attract a particular customer group and further satisfy their needs. According to Amancio Ortega the Co-founder of Zara ‘’Innovation and commitment towards our customers define our corporate culture.’’ (n.d).

The second element of the brand experience of Zara relates to how the brand lives up to their word. It is important for a brand to deliver its promise and reinfore it to restore confidence within the consumers (Anand, 2014). Zara portrays themselves to the public as a brand that focuses on supplying quality products that are sold in up market areas at affordable prices, and it can be said that Zara does indeed live up to this. If perhaps Zara was to fail in living up to their promise, they would simply lose their credibility as well as their market