Following his competitors made Amancio Ortega a millionaire. Following his customers made him a billionaire. In 1975, Ortega, formerly a Spanish bathrobe maker, opened the first Zara clothing store. His business model was simple: sell high-fashion look-alikes to price-conscious European consumers. When that succeeded, he had a new idea: radically alter the design and distribution model of the entire clothing industry. At the time, six months passed between a garment's in-house design and its in-store delivery, forcing manufacturers and retailers alike to bet big on two to three annual collections. One big flop could ruin everybody.
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