Spanish fashion giant Inditex has posted a net profit increase of 25 per cent to €1.25 billion (£995.5 million) in its full-year results and plans to launch a standalone accessories and footwear chain called Uterque.

For the year to January 31, Inditex’s sales climbed 15 per cent to €9.44 billion (£7.52 billion) and like-for-likes rose 5 per cent.

International sales accounted for 62.5 per cent of profits, up from 60.4 per cent in 2006. Inditex opened 560 stores in the financial year, 80 per cent of which were outside Spain. The retailer has 3,691 stores in 68 countries.

Inditex’s sales for the beginning of 2008 are in line with management expectations. The retailer expects to increase selling space this year by 3.12 million sq ft (290,000 sq m). Inditex also plans to enter four new markets – Korea, Ukraine, Egypt and Montenegro.

The retailer’s standalone footwear and accessories chain is expected to open between 20 and 30 stores in 2008. The group's other brands are Zara, Pull and Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Zara Home.

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