Mexico, the jewel of Zara in America
In 2010 Inditex, which operates Zara and Bershka, opened 20 stores in Mexico and plans to continue with this pace, Mexico is the most important market for the company over the United States and Canada.
VIDEO
Although Zara is the format of Inditex's flagship store in the world in recent years has diversified. (Photo: Ramón Sánchez Belmont)
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By: Jesus Ugarte
MEXICO CITY (FORTUNE) - After 18 years of operations, Mexico has become the largest market in America to Inditex , one of the leading producers and distributors of fashion in the world with eight store formats, including, Zara , Pull & Bear, Massimo Dutti, Bershka, Oysho, Zara Home and Uterqüe.
To date the company of Spanish origin in Mexico operates 208 units, far exceeding the combined U.S., Canada and Brazil (just over 90 in total together).
" Mexico was the first country in which the group developed its entire international model , so after he was in New York and Paris, but you can not really talk about the internationalization until he arrived in Mexico is a rich loop (with Mexico) "said Jesus Echevarria, president of Institutional Relations and Communication Inditex.
In 2010 the company headed by Amancio Ortega Gaona (considered the richest man in Spain and one of the wealthiest in the world ) , opened in Mexico a total of 20 stores and its expansion plan for this year considered to keep a similar pace, This will depend inter alia on the locations.
"We are on the same line, at the same level, without specifying a specific number of stores, our formula is not working, it makes sense, Inditex, Zara and other formats grow store to store, just in time you have the correct location in the face of the store, until there is no such location, did not arise as a goal , "said the executive in an interview with FORTUNE.
Declined to release the mix of store formats to open in 2011. However, he said that growth will continue Uterqüe, in order to consolidate and project in Mexico as a string with great potential.
In 2009 they opened the first unit Uterqüe in Santa Fe (Mexico City) and in 2010 in Angelópolis (Puebla), Gait (Guadalajara) and is inaugurated next to Peaches in the nation's capital. " Mexico was the fourth country , after Spain, Portugal and Greece, where it opened this format, is now present in 17 countries, Mexico has had a very good reception. "
Uterqüe is the new format of Inditex dedicated to accessories, fashion accessories and a selection of textile and fur garments . The full collection designed by the creative team Uterqüe, combines the esthetics of the latest fashion trends with the exclusivity of your product. According to the website of the company's total operating units in Mexico, 24% are Zara , Bershka 21%, 17% Pull & Bear, Oysho 15%, 14% Massimo Dutti and Zara Home and Uterqüe rest.
Globally, the General Manager of Communication and Institutional Relations of Inditex in the world made it clear that the priority of the company is consolidating its European operations and accelerate its expansion in Asia (compared to other markets) .
"In recent years in China beyond the cities of Shanghai, Beijing and Hong Kong, have been opening many stores in other places (of that country.) Capillary is entering geography throughout China," he revealed Echevarría.
Stocks up 15 days
The Indetex provisioning model is based on what is called the "supply of proximity" by how fast it is made. In this sense, more than 250 company designers work once the information retrieved from the shops.
"In 15 days and not more than 20 garments are ready to refill the stores receive 2 times a week these developments," said the executive.
The supply of Inditex in Mexico combines local products imported. In footwear is an important part of Guadalajara and León (as well as garments) and another decoration for Zara Home .
"In Mexico there are 18 suppliers of shoes: 9 in Leon and Guadalajara 9 in producing a total of 4 million units in footwear. Furthermore, these products are exported to Japan, Venezuela and Colombia (both in clothing and footwear)" , explained Lizbeth Luis, the Department of Communications and Institutional Relations Inditex Mexico.
Demanding customers
The level of customer demand in Mexico is very large not only in terms of quality, but in fashion . "The client and the client are extremely knowledgeable about fashion, is a culture of high fashion and that both permanently forcing us to an improvement in the level of fashion and how quickly you should arrive at different stores "acknowledged Echevarría.
That demand comes to the design teams, who must analyze trends that are arising in the stores, together with those of other countries. This affects the supply of fashion.
In terms of output, Mexico (where it employs about 5,000 people) belongs to the American region, which had a positive performance in the first 9 months of 2010 . The year 2010 ends on 31 January and the company will be releasing the results of that fiscal year to mid-March.
The American area contributes about 10% of the income of Inditex in the world. The group opened its first Zara store in 1975 in La Coruña (Spain), which started business and where its headquarters are located . To date, operates about 5,000 stores in over 80 countries
jueves, 27 de enero de 2011
Canadian Company Magna International Invests in Mexico
Magna International invests in Mexico
The firm will allocate more than $ 100 million to build an automotive stamping plant in SLP, the President also officially an investment of 365 million dollars of Iberdrola in two projects in the country.
VIDEO
The chief executive of Magna International, Don J. Walker (right) and President of Mexico, Felipe Calderón (left). (Photo: Notimex)
Special
Davos 2011, the new reality DAVOS (Sports Network) - The president of Mexico, Felipe Calderón Hinojosa , met with the chief executive of Magna International Company , Don J. Walker , who announced they will invest over 100 million dollars for the construction of a new automotive stamping plant in San Luis Potosi.
As part of the work of the 2011 Annual Meeting of World Economic Forum , President Calderon said the meeting in which it was revealed that the complex will create 700 direct jobs.
The new plant will occupy an area of 41.800 meters square and is expected to be inaugurated in June 2012, and once it reaches full capacity is expected to produce assemblies and stamped parts.
This is the plant number 31 of the company in Mexico since its installation 18 years ago, it now has 30 manufacturing plants and branches of engineering, product and sales in seven Mexican states: Sonora, Nuevo León, Coahuila, San Luis Potosi, Guanajuato, the state of Mexico and Puebla , where it employs nearly 13,000 people.
The production platform in Mexico is the fourth most important global Magna, exceeded only by the soles of Canada, the United States and Germany , and the company has 245 manufacturing facilities worldwide, divided into five continents.
Among his clients include: Audi, BMW, Chrysler, Fiat, Mercedes Benz, VW, Saab, Kia, Toyota, Mazda, General Motors, Subaru, Freightliner, Jaguar, Hyundai, Opel, Porsche, Mitsubishi Motors, Suzuki, PSA Peugeot Citroën Renault, Nissan, Honda and Daimler.
Oaxaca winds and Salamanca
Calderon also met with President of the Spanish company Iberdrola, Ignacio S. Galán, to present the investment of $ 365 million for the construction of two projects that consist of a cogeneration power and a wind farm.
The first project consists of a cogeneration power to be located in Salamanca, Guanajuato, and was awarded through an international tender failure that occurred last December and will create 500 jobs directly.
This company is the leading Spanish energy group, a global leader in wind electricity generation and one of the largest companies in this sector, and currently has a presence in 40 countries, employing over 33 thousand people.
The Spanish company said its growth plans will focus particularly in Mexico, Brazil and Eastern Europe.
The firm will allocate more than $ 100 million to build an automotive stamping plant in SLP, the President also officially an investment of 365 million dollars of Iberdrola in two projects in the country.
VIDEO
The chief executive of Magna International, Don J. Walker (right) and President of Mexico, Felipe Calderón (left). (Photo: Notimex)
Special
Davos 2011, the new reality DAVOS (Sports Network) - The president of Mexico, Felipe Calderón Hinojosa , met with the chief executive of Magna International Company , Don J. Walker , who announced they will invest over 100 million dollars for the construction of a new automotive stamping plant in San Luis Potosi.
As part of the work of the 2011 Annual Meeting of World Economic Forum , President Calderon said the meeting in which it was revealed that the complex will create 700 direct jobs.
The new plant will occupy an area of 41.800 meters square and is expected to be inaugurated in June 2012, and once it reaches full capacity is expected to produce assemblies and stamped parts.
This is the plant number 31 of the company in Mexico since its installation 18 years ago, it now has 30 manufacturing plants and branches of engineering, product and sales in seven Mexican states: Sonora, Nuevo León, Coahuila, San Luis Potosi, Guanajuato, the state of Mexico and Puebla , where it employs nearly 13,000 people.
The production platform in Mexico is the fourth most important global Magna, exceeded only by the soles of Canada, the United States and Germany , and the company has 245 manufacturing facilities worldwide, divided into five continents.
Among his clients include: Audi, BMW, Chrysler, Fiat, Mercedes Benz, VW, Saab, Kia, Toyota, Mazda, General Motors, Subaru, Freightliner, Jaguar, Hyundai, Opel, Porsche, Mitsubishi Motors, Suzuki, PSA Peugeot Citroën Renault, Nissan, Honda and Daimler.
Oaxaca winds and Salamanca
Calderon also met with President of the Spanish company Iberdrola, Ignacio S. Galán, to present the investment of $ 365 million for the construction of two projects that consist of a cogeneration power and a wind farm.
The first project consists of a cogeneration power to be located in Salamanca, Guanajuato, and was awarded through an international tender failure that occurred last December and will create 500 jobs directly.
This company is the leading Spanish energy group, a global leader in wind electricity generation and one of the largest companies in this sector, and currently has a presence in 40 countries, employing over 33 thousand people.
The Spanish company said its growth plans will focus particularly in Mexico, Brazil and Eastern Europe.
China and Mexico Are Urged Wins
China and Mexico are urged wins
Rising wage Asian workers causes companies to move to Mexican lands, the shortage of young employees and generate inflation China's competitiveness problems.
The salary of a Chinese worker is 14% lower than a Mexican. (Photo: Photos to go)
RELATED ARTICLES
Magna International invests in Mexico
The firm will allocate more than $ 100 million to build an automotive stamping plant in SLP. Mexico's economic model, exhausted
The meager growth of 2% over the last decade proves it says Isidro Soloaga, the Colmex. Economic activity grows 5.83%
The IGAE rose in November above forecasts of experts, an advance of 3.95%. China accelerates expansion
GDP grew 9.8% in the fourth quarter from 9.6% seen in July-September period.
MEXICO CITY (Reuters) - The Mexican economy is getting help from unlikely allies: the workers in China , whose salaries are increasing leading to more companies to build plants in Mexico.
Meco Corporation, an American manufacturer of folding chairs and grills, is shifting production from China to Mexico, after the salaries of its factories in China to have more than doubled since 2007.
"We had numbers and we decided to move our equipment to Mexico , with the decision really based on trying to provide more stable prices to our customers, "said the chairman of Meco, Harrell Ward.
The manufacturer of leather products Coach also took account this week and decided to cut production dramatically in China, rising labor costs.
Meco, a family business of Greeneville, Tennessee, do the math in millions of dollars, not billions.
But his plan to invest $ 10 million in a plant in northern Mexico is good news for a country that has been in the shadow of China for the past seven years in terms of U.S. market share.
For the first time since China joined in 2001 at the World Trade Organization (WTO), Mexico showed in the first 11 months of 2010 increased the growth of the Asian giant in terms of their participation in the U.S. market.
Possibly Mexico ended 2010 with just over 12% of the U.S. import market, a greater role in history.
Wages in Mexican factories are currently about 14% higher than those of China, according to estimates by the Secretary of Treasury.
According to estimates by officials in 2002 wages were 240 times higher than those of China, which canceled the natural advantage of proximity to the United Mexican States.
The advantage has also been supported by an increase in transport fuels to their highest levels in two years , which has become less attractive to send goods across the Pacific.
The smallest wage gap makes it possible for Mexico to achieve an even greater gain in the U.S. market in the coming years, said Sergio Luna, deputy director of economic studies at Banamex unit in Mexico from Citigroup .
Manufactured goods account for a fifth of the Mexican economy and 80% of its exports go to the U.S.. The good news for Mexico also show how the labor markets may be helping to correct the problem of so-called global imbalances.
Many countries, including Mexico, say that China has kept its currency artificially weak to support its export industry.
Economists say China's approach to exports, along with U.S. reliance on imports, has unbalanced the global economy and increased the risk of financial instability.
But in China are becoming scarce young workers, which is driven higher wages.
It is expected that rising food prices at the beginning of 2011 inflation boost after a dip in December, which further push wages upward.
Mexican factories are seeing more opportunities to compete after years of losing share to Chinese competitors, prompting the country's participation in the U.S. import market to 10% in 2005.
"Sooner or later the water had to return to their level," Solomon said Pressburger, head of the Confederation of Industrial Chambers (Concamin) of Mexico, who owns a factory jackets near Mexico City.
Benefit to U.S.
Foreign investment in Mexico is growing , as in countries like Malaysia and Vietnam, and the country's estimated about 19.000 billion in direct investment this year.
Established in Mexico may be good for business because the Mexican Americans tend to buy more US-made components in China. In general, Mexico buys nearly double U.S. exports to China , and anything that creates more demand for U.S. goods reduce the imbalances.
"If a company needs to move out of the country, is of strategic interest to the United States do to Mexico or Canada, our largest customers," said Barry Lawrence, industry and commerce who studies at Texas A & M.
In the past two years, Jabil Circuit has hired about 7,000 workers in the Mexican city of Guadalajara, which produces electronic goods, including BlackBerry phones to the Canadian firm Research in Motion, said Cesar Castro, a manager at Jabil.
"As labor costs are almost flush with China," he added.
Collectron, a provider of services to U.S. factories to Mexico recently led investments for the manufacture of medical devices a few years ago would have gone to China, said company president, Maria Elena Rigoli.
But the trend has not changed at all. China still has a huge share of 19% in the U.S. market. Most of the companies leaving Mexico may not be back soon, as some investors are concerned about security in a country beaten by drug violence.
AlixPartners places Mexico as the most competitive country for producing various manufactured goods, but a consulting client recently canceled plans to move to Mexico for safety, said managing director Stephen Maurer.
More than 34,000 people have died since President Felipe Calderon declared war on drug cartels
in late 2006, although some regions have been hardest hit than others.
Meco's new plant is opening in Saltillo , a city of less than one million people so far has not been hit by the violence of drug traffickers. Official statistics show 45 deaths related to drug trafficking since 2006, against 260 in Morelia, a city of comparable size.
Ward runs the risk by allowing their employees traveling in Mexico who travel at night. Is even considering building a second factory in Saltillo, working in tandem with its assembly lines in America
Rising wage Asian workers causes companies to move to Mexican lands, the shortage of young employees and generate inflation China's competitiveness problems.
The salary of a Chinese worker is 14% lower than a Mexican. (Photo: Photos to go)
RELATED ARTICLES
Magna International invests in Mexico
The firm will allocate more than $ 100 million to build an automotive stamping plant in SLP. Mexico's economic model, exhausted
The meager growth of 2% over the last decade proves it says Isidro Soloaga, the Colmex. Economic activity grows 5.83%
The IGAE rose in November above forecasts of experts, an advance of 3.95%. China accelerates expansion
GDP grew 9.8% in the fourth quarter from 9.6% seen in July-September period.
MEXICO CITY (Reuters) - The Mexican economy is getting help from unlikely allies: the workers in China , whose salaries are increasing leading to more companies to build plants in Mexico.
Meco Corporation, an American manufacturer of folding chairs and grills, is shifting production from China to Mexico, after the salaries of its factories in China to have more than doubled since 2007.
"We had numbers and we decided to move our equipment to Mexico , with the decision really based on trying to provide more stable prices to our customers, "said the chairman of Meco, Harrell Ward.
The manufacturer of leather products Coach also took account this week and decided to cut production dramatically in China, rising labor costs.
Meco, a family business of Greeneville, Tennessee, do the math in millions of dollars, not billions.
But his plan to invest $ 10 million in a plant in northern Mexico is good news for a country that has been in the shadow of China for the past seven years in terms of U.S. market share.
For the first time since China joined in 2001 at the World Trade Organization (WTO), Mexico showed in the first 11 months of 2010 increased the growth of the Asian giant in terms of their participation in the U.S. market.
Possibly Mexico ended 2010 with just over 12% of the U.S. import market, a greater role in history.
Wages in Mexican factories are currently about 14% higher than those of China, according to estimates by the Secretary of Treasury.
According to estimates by officials in 2002 wages were 240 times higher than those of China, which canceled the natural advantage of proximity to the United Mexican States.
The advantage has also been supported by an increase in transport fuels to their highest levels in two years , which has become less attractive to send goods across the Pacific.
The smallest wage gap makes it possible for Mexico to achieve an even greater gain in the U.S. market in the coming years, said Sergio Luna, deputy director of economic studies at Banamex unit in Mexico from Citigroup .
Manufactured goods account for a fifth of the Mexican economy and 80% of its exports go to the U.S.. The good news for Mexico also show how the labor markets may be helping to correct the problem of so-called global imbalances.
Many countries, including Mexico, say that China has kept its currency artificially weak to support its export industry.
Economists say China's approach to exports, along with U.S. reliance on imports, has unbalanced the global economy and increased the risk of financial instability.
But in China are becoming scarce young workers, which is driven higher wages.
It is expected that rising food prices at the beginning of 2011 inflation boost after a dip in December, which further push wages upward.
Mexican factories are seeing more opportunities to compete after years of losing share to Chinese competitors, prompting the country's participation in the U.S. import market to 10% in 2005.
"Sooner or later the water had to return to their level," Solomon said Pressburger, head of the Confederation of Industrial Chambers (Concamin) of Mexico, who owns a factory jackets near Mexico City.
Benefit to U.S.
Foreign investment in Mexico is growing , as in countries like Malaysia and Vietnam, and the country's estimated about 19.000 billion in direct investment this year.
Established in Mexico may be good for business because the Mexican Americans tend to buy more US-made components in China. In general, Mexico buys nearly double U.S. exports to China , and anything that creates more demand for U.S. goods reduce the imbalances.
"If a company needs to move out of the country, is of strategic interest to the United States do to Mexico or Canada, our largest customers," said Barry Lawrence, industry and commerce who studies at Texas A & M.
In the past two years, Jabil Circuit has hired about 7,000 workers in the Mexican city of Guadalajara, which produces electronic goods, including BlackBerry phones to the Canadian firm Research in Motion, said Cesar Castro, a manager at Jabil.
"As labor costs are almost flush with China," he added.
Collectron, a provider of services to U.S. factories to Mexico recently led investments for the manufacture of medical devices a few years ago would have gone to China, said company president, Maria Elena Rigoli.
But the trend has not changed at all. China still has a huge share of 19% in the U.S. market. Most of the companies leaving Mexico may not be back soon, as some investors are concerned about security in a country beaten by drug violence.
AlixPartners places Mexico as the most competitive country for producing various manufactured goods, but a consulting client recently canceled plans to move to Mexico for safety, said managing director Stephen Maurer.
More than 34,000 people have died since President Felipe Calderon declared war on drug cartels
in late 2006, although some regions have been hardest hit than others.
Meco's new plant is opening in Saltillo , a city of less than one million people so far has not been hit by the violence of drug traffickers. Official statistics show 45 deaths related to drug trafficking since 2006, against 260 in Morelia, a city of comparable size.
Ward runs the risk by allowing their employees traveling in Mexico who travel at night. Is even considering building a second factory in Saltillo, working in tandem with its assembly lines in America
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