Inditex

H&M said Wednesday its net profit more than doubled in the first quarter as the world's second biggest fashion retailer worked to control costs.

The Swedish company reported a profit-after-tax of 1.2 billion kronor ($113.3 million) in the December-to-February period.

Piraeus Tower SA and Spanish-based Inditex Group have signed an agreement for the lease of the Piraeus Tower.

Inditex, one of the top fashion groups in the world, will be the anchor tenant in the Piraeus Tower.

The group was founded in La Coruna in 1975 and is now active in 216 countries with 6,700 stores.

The hybrid shopping models of click-and-collect and click-inside have started operating in major cities such as Athens, Piraeus, Patra and Halkida due to the new Covid-19 restrictions, with many problems reported and some major enterprises leaving it very late before deciding whether they would employ them or stay closed.

International brands ZARA and IKEA will launch their first stores in Plovdiv and the two chains will open their premises in the renovated Plovdiv Plaza Mall. After its renovation, the shopping center is set to open again in November. The Inditex fashion industry giant's brand will have a store of more than 3700 square meters in the mall.

The founder of the Spanish textile concern Inditex and the Zara brand Amancio Ortega became the richest man in the world, pushing Microsoft's founder Bill Gates to second place, Forbes Magazine has said.

Turkish clothing retailer Mavi Giyim plans to list on Istanbul's stock exchange, the company has confirmed, in what will be a test for the exchange 10 months after a coup attempt.

Chief Executive Officer Cüneyt Yavuz said 82 percent of Mavi's business comes from Turkey, which has a growing and young population.

Forbes top-30 listed billionaire Wang Jianlin (29th) saw his wealth dissipate by a mere (!) 3.6 bln US dollars in just 24 hours, after the crash in the Chinese stock markets on Monday.