The heiress of Zara receives an absolutely fabulous salary

The heiress of Zara receives an absolutely fabulous salary

For her first year at the head of the Inditex group, Marta Ortega will receive a dizzying salary. The Zara heiress, now CEO of the family business, helped the company earn record profits in 2022.

Beige trench, handbag Kelly camel signed Hermès, white jeans, khaki blazer, sky blue waistcoat… According to the few shots of Marta Ortega Perez, here are the clothes that make up the wardrobe of the new boss of Inditex (Industria de Diseño Textil), Spanish fast fashion giant that owns Zara, Zara Home, Massimo Dutti, Bershka, Stradivarius, Pull & Bear and Oysho. Timeless, chic, versatile and above all discreet pieces, like the company inherited by this young woman from 39 years old. Since 1er April 2022, the youngest ofAmancio Ortegafounder of the Iberian group, is the “chairwomanfrom the clothing company. An appointment announced on November 30, 2021. On assuming this post, Marta Ortega Pérez took over from Pablo Islaa lawyer 20 years his senior, himself CEO of Inditex since 2011 (he then took over from Amancio Ortega) and joined the company in 2005. He is known to be one of the architects of the group’s success as we know it today. For example, under his presidency, the market valuation of Inditex was multiplied by ten. A success that earned him to bow out with a nice jackpot : a retirement savings plan of 9 million euros accompanied by 2 million shares valued at nearly 55 million euros according to the specialized site Fashion Network.

Because guaranteeing the success of a company the size of Inditex is no small feat, Marta Ortega Pérez received, at the end of her first year at the head of the group, a dizzying salary. His salary ? 1 million euros per year. To be completely exact, the businesswoman received 834,000 euros over the year, since the figures communicated in Inditex’s annual report run from her appointment in April 2022 to the end of the company’s fiscal year. company, on January 31, 2023. Per month, his salary therefore amounts to 83,400 euros, in a country, Spain, where the minimum monthly salary is 1,260 euros gross.

A heritage empire

6,500 stores in 96 countries and 174,000 employees. This is the kingdom over which Marta Ortega Pérez, as a worthy heiress, is now responsible for reigning. Until then, the young woman supervised the design and launch of products for Zara in particular, and more broadly for the six other brands of the group. A small company whose turnover in 2021 amounted to €27.716 billion. Sign of fate, Inditex and Marta Ortega are almost the same age; just forty years old.

It’s the January 10, 1984 that Marta Ortega is born. His father, the son of a railway worker and self-taught who became the first Spanish fortune (this is estimated at $57 billion by magazine Forbes), was first married to Rosalía Mera, with whom he had two children, Marcos and Sandra, and with whom he launched Zara in 1975. Then he married Flora Perezthe mother of his third daughter, Martha. She grew up in the Galician town of La Coruña located a few kilometers from the headquarters of Inditex. Her studies, she first follows them in a jesuit college of the region, then in a Swiss private high school before landing on the banks of theEuropean Business School from London, from which she graduated in 2007. Alongside her studies across the Channel, she worked as a saleswoman in a Zara store in the British capital. If the other employees knew nothing of her ancestry, the Rolex she wore (long before she was 50) on her wrist would have aroused the suspicions of her colleagues. “The first week, I thought I was not going to survive. But then you kind of get addicted to the store.”she told in a rare interview with the magazine wall street journal in August 2021 about this retail experience.

© Inditex

A child of the seraglio

Her new role as president came as no surprise. It must be said that since she finished her studies, Marta Ortega Pérez has been wandering the halls of Inditex where “she has led many projects“, as Pablo Isa explained during his speech to the press on Tuesday, November 30, 2021. “She knows [l’entreprise] On the fingertips“, affirmed then the former leader of Inditex. What Marta Ortega also confirmed in the press release announcing his appointment: “I have lived and breathed this business since I was a child and have learned from all the great professionals I have worked with over the past 15 years. I have always said that I will dedicate my life to building on my parents’ legacy, looking to the future but learning from the past, serving the company, our shareholders and our customers.“.

However, his new role at the head of the ready-to-wear group did not necessarily delight the shareholders. Immediate consequence: -6% on the Inditex price on the stock exchange on the day of the announcement of his appointment. Marta Ortega Pérez, however, does not arrive alone: ​​at her side, Oscar Garcia Maceiras assumes the role of Executive Director General. An appointment that comes just a year after the arrival of this 47-year-old lawyer as the company’s general secretary. Another ally: Carlos Torretta, second husband and father of Matilda, Marta’s second child. At Inditex, he has been working since 2019 in thecommunication team of the e-commerce division of Zara. He himself is no stranger to the world of fashion, since he is the son of the designer Roberto Torretta and for a time headed the Spanish branch of theelite model agency.

Challenges in perspective

But the challenges that await Marta Ortega Pérez are numerous (and up to his remuneration). Among these, succeeding in continuing to seduce by doing fast fashion in a world increasingly sensitive to eco-responsibility issues. The group, also singled out for possibly using the Uyghur forced labor in China, is gradually recovering from the coronavirus pandemic. If Inditex’s 2021 turnover were in 36% increase compared to the previous year, it had still not reached its Covid-19 pre-crisis level. In 2022, on the other hand, despite the war in Ukraine and the group’s 502 Russian stores closed from March, then sold in November, the company made a record profit of 4.13 billion euros, higher than that of 2019. To overcome this tense period, Inditex was able to count on the resources by Marta Ortega Pérez and especially on her fashion touch. It was under his aegis that the group called on photographer Steven Meisel (who immortalized the young woman for the magazine wall street journal in August 2021), artistic director Fabien Baron, stylist Karl Templer and director Luca Guadagnino.

She is also the one who launched the ultra-desirable collection Zara SRPLS and boosted the label’s collaboration with the French actress and singer Charlotte Gainsbourg at the end of 2021. She, finally, who imagined collections with the cutting-edge label Ader Error, the former editor-in-chief of Vogue Paris Emmanuelle Alt, the American designer Narciso Rodriguez or the American model Kaia Gerber. Accustomed to the front rows of fashion shows alongside Anna Wintour and company, Marta Ortega Pérez knows the fashion sphere like his pocket. Ultimate proof: in December 2021, she posed with the gratin of the sector for the inauguration of the exhibition Untold Stories in La Coruña. An extensive retrospective of the work of photographer Peter Lindbergh which was set up by the Spanish heiress and closed on March 31, 2022. One day before Marta Ortega Pérez begins the new chapter of her life.