unknown facts about Amancio Ortega

Unknown facts about Amancio Ortega

In this we know about the unknown and interesting facts about the world’s biggest retails giant Amancio Ortega. Amancio Ortega is a famous Spanish entrepreneur and the former chairman and founder of the Inditex fashion group which is famous for Zara clothing and accessories in the market.

Amancio Ortega is the sixth richest person in the world according to Forbes 2019 and his Indetix fashion group includes other brands like Pull&Bear, Bershka, Messim Dutti, Uterque, and many more.

He has an unbelievable net worth of 62,700,000,000 US dollars by 2019 which makes him the richest person in Europe and the Sixth richest person in the world. Amancio is 80 years old but he still directly involved to expand his brands in the market also continuously dominating the European fashion industry.

1- He left the school at the age of 14 and went to work for a shirt maker

The family of Ortega is not wealthy by which he had to leave the school at the age of 14-year old because the salary of his father is not enough to keep him there. So he left the job and he went on for the shirt maker where he learns to make shirts by hand from where he interacts with the fashion industry. This facts are related to his education life.

2- He didn’t start his 1st business until he was 37.

He started the business very late and established his first business when he was 37 years old. His first business was called Confecciones Goa. And this business was specialized for women which he produced with his wife at the starting days of business.

3- His first Zara store was called Zorba, but he had to change the name.

The first Zara store was open in 1975 under the name of Zorba but the restaurant a couple of the street away had taken the name of Zorba. After that Ortega and his wife Rosalia Mera changed the name Zorba to Zara to avoid any confusion also after some years Zara had opened in nine more locations. This fact is related to his business Inditex (Zara)

4- He has a uniform that he wears every single day.

Amancio Ortega is a very simple person and doesn’t love the more cloths or brands to wear despite he was an owner of the largest fashion brand Zara. So he wears the same cloth every day his blue blazer, white shirt, and grey trousers.

5- He eats lunch with his staff in the office cafeteria everyday.

He might be the richest person in Europe but he still is known for his humble lifestyle. He still goes to the office every day has lunch with his staff in the cafeteria and share desk with the designers, buyers, and fabric buyers. In his downtime he raised his chickens also.

6- Zara can develop a garment and get it into store in 2-3 weeks

Zara is the biggest & highly fashion brand in the world because of its unbeatable fashion brands & accessories. Conception to designed and deliver to the store takes just 3 weeks so his brand is always updated and changing his stock. The majority of his garments are made in Spain closed to their headquarters to take the customer feedback to update and develop their design. In comparison H.M takes five months to launch one item. These facts are related to his Inditex.

7- Ortega hardly spends any money on advertising his brands.

Zara doesn’t have an advertising budget because the big boss doesn’t believe its necessary. Its marketing department doesn’t do any flash campaigns and TV advertisements. They believe in delivering fast fashion in the market and develop or update their fashion products.

8- Zara’s store position are very deliberate and calculated.

Ortega did not give priority to advertise but the real state is the major focus of his. He chooses the site for the Zara stores that are closed to luxury brands like Prada, Gucci, Cartier, and Hermes. The logic behind that is to get closed to these brands to attract the same customers. There New York flagship store became the most expensive retail site ever sold to menswear.

9- In 2015, Amancio Ortega officially overtook Bill Gates as the 2nd richest man in the world for about a day.

Bill Gates Success Story

In 2015, Ortega became a world richest man in the world overtaking the founder & chairman of Microsoft Bill Gates for a day. By next morning Bill Gates reclaimed his place. Ortega is a simple man with life so he was too worried about his place on the rich list. These facts are related to his net worth.

10- His management style is partly influenced by his lack of formal education.

The management style is partly influenced and too different. He prefers oral communication overwritten. Like discussing things in groups and main focus on listing rather than writing things down. He rarely speaks in the public and shies away with his staff singing happy birthday to him.

11- He lives in a “Discreet apartment building” overlooking the sea.

Ortega married his second wife Flora Perez in 2001 and issue a apartment in La Coruna, Spain. He opened his Zara store in this town and the headquarters are still closed by. His home reflex his humility and privacy. His children set to get some pretty incredible places because this man doesn’t like to flash the cash. These facts are also related to his family, children, and wife.

12- He pays for 500 Spanish students to go to college in United states & Canada every year.

He pays for the 500 students to education perhaps to the wrong own lack of his education. He also helps various charity like he donates 20 million euro to Caritas Internationalis a charity which provides global relief.

13- He bought the former tallest Skyscraper in Spain for $536,000,000.

The Skyscraper tower for 5,36,000,000 dollars in Madrid is bought by Ortega construction was finished in 1988 and had 43 floors of office space. It was the tallest building until 2007. These facts showing his success.

14- Ortega owns a complex in Miami that includes a hotel and luxury apartments.

One of the most luxurious hotels and apartments with the best and 24 hours services is in the Miami US. The Ortega offers the best place he offers to visits. Rather he accepts the special treatment is doesn’t matter.

15- He own a private jet worth 45,000,000 dollars.

He also purchased the BD 700 private jet. It is one of the finest jets in the world with a comfortable interior. Its top speed is marked 0.86 and considers 18 passengers and 4 crew. So this private jet proves his wealth as well.

So these are the unknown and interesting facts about Amancio Ortega related to his life, success, net worth, family & children also about the Inditex.

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