(Reuters) -Zara-owner Inditex plans to expand its budget brand Lefties to France, the fashion giant's CEO told investors on Tuesday, as it tries to attract more young consumers and steps up
Inditex Revives Lefties Brand in France to Compete with Shein
(Reuters) -Zara-owner Inditex plans to expand its budget brand Lefties to France, the fashion giant's CEO told investors on Tuesday, as it tries to attract more young consumers and steps up competition against Shein and other low-cost rivals.
The planned opening marks Lefties' return to France, having initially launched there in 2009 before shutting both its French stores by 2012.
Established 25 years ago and named for its beginnings as an outlet selling Zara's leftovers, Lefties has stores in 18 countries and has grown as Inditex competes against online-only retailers like Shein that sell at rock-bottom prices.
In May, Lefties unveiled a new, all-caps logo in an Instagram post along with its "Lefties everywhere, on everyone" slogan. The brand is currently mostly focused on Spain and Portugal, but last month Inditex CEO Oscar Garcia Maceiras said Inditex is "testing Lefties in new markets".
The brand's dresses are priced at as little as 9.9 euros ($11.55) and jeans at 12.99 euros, comparable to Shein and Primark, and providing a cheaper alternative to Zara - which has increased its prices in recent years.
Inditex is also expanding its other brands, Garcia Maceiras told the group's annual shareholder meeting on Tuesday. Bershka is opening its first stores in Denmark; Stradivarius in Austria; Oysho in the Netherlands; and Massimo Dutti in Brazil, while the Zara Man label is launching in the United States with a store in Costa Mesa, Los Angeles, he said.
The store openings, including Lefties in France, will take place this year and next, an Inditex spokesperson said.
($1 = 0.8568 euros)
(Reporting by Helen Reid and Javi West Larranaga; Editing by Susan Fenton)
