Inditex announced yesterday its entry into the shareholding of a company for the first time, in this case in the start-up Circ, and has not ruled out more similar operations. This was announced by the CEO of the multinational, Óscar García Maceiras, during the general meeting of shareholders, the first chaired by Marta Ortega, the founder's daughter, since she took command of the company on April 1.
"This is the first capital entry operation of another company and it is a path that we leave open, identifying projects and initiatives that can help our sustainability strategy and its acceleration," explained García Maceiras to the shareholders.
Specifically, the start-up Circ promotes a recycling technology of a disruptive nature. This technology will allow the recycling of textile products made up of mixtures of different materials, such as polyester and cotton, with the aim of generating new sustainable fibers for use by the textile industry.
The commitment to sustainability is one of the strategic axes of Inditex, chaired by Marta Ortega. Along with the entry into Circ, a regenerative agriculture project was presented in the states of Madhya Pradesh and Odisha in India and the 'Makers of change' program that encourages each store to have a sustainability ambassador. Now this figure is present in 53 markets and the goal is to speed it up to be in a position to be present in all our stores by 2022," said the manager.
Regarding business development, García Maceiras confirmed to the shareholders that despite the complexity of the environment “Inditex's model is at full capacity” and for the future “it has enormous potential”. The manager confirmed that the company continues to monitor the situation in Russia and Ukraine, where after the outbreak of the war it launched a plan to support its more than 10,000 employees. "We continue to monitor closely to make decisions that preserve our interests in these markets," he said.
For its part, the general meeting of shareholders yesterday approved the ratification and appointment of Marta Ortega Pérez as president of the company, and Óscar García Maceiras, as CEO. The daughter of the founder of Inditex had words of gratitude to her father "for her vision, tenacity and absolute dedication to the company" and conveyed a "deep gratitude for her support" to the board of directors. Marta Ortega recognized before the shareholders that her "feeling of responsibility is immense", but "the feeling of pride far exceeds it". She recognized that Inditex is "the place" where she has grown "personally and professionally" and where she has always "wanted to be".
The shareholders also gave the green light to the dividend for 2022 of 0.93 euros per share, of which 0.465 euros were paid on May 2 and the rest will be paid on November 2.
