The daughter of Zara's founder has been named Spain's richest woman
Zara's mammoth global high-street success has resulted in the daughter of its founders becoming Spain's richest woman.
Inditex, who owns Zara, Pull & Bear, Massimo Dutti and Bershka, was first set up by Rosalia Mera and Amancio Ortega in 1963. Zara was the company's first flagship offering, with the first store opening on the high-street 12 years later.
After co-founder Rosalia's death in August, 45-year-old daughter Sandra Ortega Mera inherited 90% of her mother's fortune and her stake in the world's largest fashion retailer. She is now worth $7.3 billion and the youngest female European billionaire, according to the Bloomberg Billionaires Index.
'Sandra Ortega’s inheritance elevates her into the top wealth sphere in Spain,' said Nicholas Moody, London-based editor at Campden Wealth, a networking community for the world’s wealthiest family businesses. 'The interesting thing to watch will be whether her involvement with Inditex develops and if she takes a more active part in the business.'
By Robyn Munson