Amancio Ortega – Biography, who is he and what he did | 2021

Amancio Ortega, born in 1936, is a Spanish businessman who, together with his wife Rosalía Mera, created Inditex (Industria de Diseño Textil), a business giant in the textile sector. His business success has led him to become one of the richest men in the world.

Ortega has one of the greatest fortunes in Spain and his career as a businessman and entrepreneur has been studied in numerous business schools.

As president of the Inditex Group, he is in charge of companies such as: Zara, Pull & Bear, Lefties, Bershka, Massimo Dutti, Stradivarius, Oysho and Uterqüe.

In addition to the textile business, Amancio Ortega has diversified his business initiative into other sectors such as real estate, finance, car dealerships or investment fund management.

The origins of an entrepreneur

Born into a humble family in León, he moved to Tolosa and later to Galicia. From an early age, Amancio Ortega already showed a clear entrepreneurial spirit.

A key event in Amancio Ortega’s life took place when the owner of a grocery store told his mother that it was impossible for him to continue to trust them with money. With the need pressing, Amancio Ortega swore to himself that he and his people would never go through difficulties again.

At the age of 14 he got a job delivering shirts for the Gala Shirt in the city of La Coruña and, later, he worked as a salesman for a textile store called La Maja. It was there that he acquired important knowledge about the world of the textile sector and met Rosalía Mera, who would later become his wife. The creativity and entrepreneurial spirit of Amancio, Rosalía and their brother led them to found Goa Confecciones in 1963.

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Goa Apparel was a business model different from what was known at that time in the textile sector. Women’s robes and dresses were manufactured using rapid production processes, while the intervention of middlemen was reduced.

From Zara to Inditex

In 1975, Amancio Ortega’s businesses took a decisive step in his business career, as Zara opened its first commercial establishment to the public in the Galician town of La Coruña. The philosophy of the company is clear: prices within the reach of consumers and, above all, satisfying the customer’s wishes.

Thanks to this philosophy, Zara earned a magnificent reputation and the company opened numerous stores throughout the Spanish territory. Given the spectacular growth of their businesses, it was necessary to be able to control commercial establishments and factories. For this reason, Amancio Ortega created the Inditex Group in 1985.

A giant like Inditex and with a business model could not be reduced to the Spanish market. There were new markets with great business opportunities. Thus, Inditex took a new step and landed with new establishments in cities such as Porto, New York, Paris and Mexico.

A giant of the textile sector

Inditex did not limit itself to taking advantage of a brand like Zara. The business group began to bring together new brands in the 90s, among which Stradivarius, Pull & Bear, Bershka, Mashimo Dutti and Oysho stand out.

Inditex’s international expansion strategy continued thanks to a strong investment of 250 million euros, giving rise to a presence for Inditex in more than forty countries with more than 7,000 commercial establishments.

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All of this has made Inditex the Spanish company with the greatest international presence.

What was the key to Amancio Ortega’s business success?

Two elements were decisive in the success of Amancio Ortega.

The first consisted of a pricing policy available to the public. The second key factor was timing. By having their own factories, Amancio Ortega companies can have their own clothing collections much faster than other companies in the textile sector and quickly meet customer demands.

Beyond the two factors mentioned above, Zara’s store location policy has also been very successful. Inditex stores are located in the most select areas of cities, transmitting an image of quality and prestige, while offering affordable prices for the consumer.

The fortune of Amancio Ortega

According to Forbes magazine, Amancio Ortega has the largest fortune in Spain, which is estimated at 67,000 million euros.

Amancio Ortega scholarships

The Amancio Ortega Foundation Scholarship Program is a scholarship program offered by the Amancio Ortega Foundation to students who are about to finish secondary education, that is, who are in the 4th year of ESO.

This scholarship program offers the student an academic and personal experience in the United States and Canada.

In this sense, during a full course, the Program’s scholars attend class at a local educational center and live with a host family.

During 10 months, the scholarship student will be able to practice English, achieving fluency for high school and university. This, at the same time that it achieves the transversal competences that studying a year abroad implies.

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Daughter of Amancio Ortega: Marta Ortega

Marta Ortega is one of the daughters of Amancio Ortega, being remarkable the role of this daughter in the company, as well as the responsibilities that could fall on her after the retirement of her father.

Marta Ortega, we must know that she is a very prepared young woman. He studied business at the University of London Business School, graduating in 2007 with a specialty in international entrepreneurship. That same year he began working for the Inditex company.

At present, Marta occupies a position on the board of the Amancio Ortega Foundation, at the same time that she develops various positions of responsibility in the textile company founded by her father.

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