Amancio Ortega
Gaona, more popularly known as Amancio Ortega, is a wealthy entrepreneur and
fashion designer. He co-founded the Inditex Group and later became its
chairman. He was listed by the Forbes magazine as one of the wealthiest men in
the world.
Ortega was born
in Leon, Spain on March 29, 1936. His love for fashion and business started at
the age of 13 when he worked as a delivery boy for a local shirt maker in La
Coruna, Galicia. His work from one tailor and store to another gave him the
chance to study how costs and products changed as they travel from the factory
to the end user. He realized that costs are minimized when the products reach
the end user directly, without passing through a middle man.
Although he
never finished his higher education, Ortega became a manager of a local
clothier until 1963 when he started his own business which he named
Confecciones Goa. He made quality fine bathrobes made of cheaper fabric he
bought from Barcelona. He was just 27 when he started Confecciones Goa.
In 1975, Ortega
opened Zara, his first retail store. Zara became popular for selling high
quality designer clothes at very reasonable prices. In 1985, Ortega established Inditex to serve
as the holding
company for Zara and his other small chains. Zara became very successful.
Ortega operated close to 100 Zara outlets by 1989. Inditex became one of the
biggest clothing and textile companies in the world.
Inditex became a
public company in 2001. Ortega owned over 59% of the stakes at Inditex,
instantly making him one of the richest in the world. In spite of his fortune,
Ortega remained a low profile person. He rarely appears in public events and
would not even grant requests for interviews.
Ortega lives a
very private life with his wife in La Coruna. Despite his fortunes, he still
enjoyed designing for his fashion brands.
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