Inditex details its US roadmap: 20 projects, including a first Bershka store in New York

Madrid – The US has remained Inditex's largest market by turnover, second only to Spain, since 2021. This is a position the Spanish fashion multinational fully intends to build upon. The company's chief executive officer has announced a new “country plan” through to 2027, following the release of its results for the first half of 2026.

To provide some context, in March 2023, coinciding with the presentation of its 2022 annual results, Inditex announced the launch of a strategic growth plan in the US. This plan included approximately 30 growth projects, including openings and refurbishments, between 2023 and 2025. The roadmap was updated in March 2024 with the company's plans to reintroduce its premium fashion chain, Massimo Dutti, to the country. A new store was opened in Miami's Aventura Mall in November 2024, and this plan has now been surpassed by the initiatives for 2026.

In this context, in December 2025, coinciding with the presentation of its third-quarter results, Inditex announced and confirmed its plans to introduce Bershka, its second-largest chain by sales volume, to the US. The plan involved opening its first two stores in the country, both in Miami. The first of these openings was completed this August, with a store launching in Miami's Aventura Mall. These moves began to outline the first steps of a new strategic growth plan for Inditex in the North American country. This roadmap was further shaped, albeit unofficially, with the confirmation in March 2026 of new growth initiatives. These include the refurbishment of Zara's flagship store on New York's Fifth Avenue, the opening of a new Massimo Dutti store in Miami's Brickell district, and a new store in New York's SoHo neighbourhood.

Evaluating US entry for all eight Inditex chains

Building on this background, we come to the presentation on September 9 of Inditex's results for the first half of its current 2026 financial year. These results were accompanied, as is customary, by a conference call with analysts and investors, during which the company's management was asked directly about its growth plans for the US.

In response, Óscar García Maceiras, chief executive officer of Inditex, stated that, “when developing our selective growth strategy in the United States, as in other markets, each project is analysed on a case-by-case basis.” He explained that, “Zara has been very active through new openings, expansions and refurbishments over the last few years in the United States.” This is evidenced by the chain's projects in Miami Brickell, Tysons Corner, Virginia, and “this year, with our flagship store on Fifth Avenue, which will reopen after a complete refurbishment.” Maceiras added, “we continue to plan new openings for the coming years in new cities, using the knowledge we gain from our online performance.” This omnichannel approach has publicly underpinned Bershka's entry into the US, which the company justified by its “excellent online performance in the United States”.

Based on this same strategy, Maceiras detailed during the conference that, “2026 will be a particularly important year for the company's ‘youth’ concepts” in the US. This includes “the first Bershka store in Miami Aventura, which opened in August, and the opening of the second Massimo Dutti store” in the country, in “New York's SoHo, this coming October.” Looking beyond these already known openings, Maceiras made a significant announcement. He stated, “we are evaluating additional new opportunities” for growth in the US, “not only for our brands that already have a presence in the United States, but also for the group's other concepts.”

Twenty expansion projects planned by 2027

Following the conference call with analysts and investors, and contrary to expectations given Inditex's strong sales and profit results for the first half of its 2026 financial year, the markets reacted by pushing the Spanish fashion multinational share value down. This pressure was generated by an increase in costs during the second quarter, which resulted in the EBIT margin falling from 20.1 percent in the first quarter to 19.5 percent at the end of the first half, the same rate as the previous year.

As a consequence of failing to meet market expectations, Inditex shares fell from 56.52 euros at the close of trading on September 8 to 54.48 euros per share on September 9. This was a drop of 3.60 percent, which eventually extended to 4.42 percent, with Inditex shares closing at 54.02 euros per share on Friday, September 11. In response to this impact on its share value, Inditex's management has further detailed its “country plan” for the US in a brief interview given by its chief executive officer, Óscar García Maceiras, to Reuters.

The interview was conducted after the results presentation on September 10 and published on the morning of Friday, September 11. During the interview, Maceiras noted that the company remains focused on the US, a market they continue to classify as strategic for Inditex. They plan to execute up to 20 projects, including openings, expansions and refurbishments, by the end of 2027. These initiatives will affect all three chains currently operating in the North American country: Zara, Massimo Dutti and Bershka. Plans have been announced for new Zara stores in Denver, Phoenix and Pittsburgh, and a first Bershka store in New York. These projects, along with those already scheduled for 2026, will help to further strengthen the presence of Inditex and its brands in the US. At the close of its last full financial year in 2025, Inditex had a total of 103 stores in the market (102 Zara stores and one Massimo Dutti), or 106 including the three Zara stores in Puerto Rico. This represents an increase of four stores from the 99 in the US (excluding Puerto Rico) at the end of 2024, and only five more stores than the 98 at the close of the 2022 financial year.

“The United States, due to its population and its level of relevance, is generating a great deal of interest” for the company, Maceiras told Reuters. In response to this landscape, the Spanish fashion multinational remains focused on executing a “selective growth” strategy in the country to ensure the profitability of each of its points-of-sale. He believes the Spanish company is particularly well-positioned to benefit from current consumer purchasing dynamics, at a time when “many customers combine different types of products in their wardrobe, from different market segments, sometimes opting for options below the luxury category.”