Inditex's Marta Ortega puts the 'human factor' before the rise of AI: “The real value is in people”

Madrid – This Tuesday, July 7, the Inditex group's headquarters in Arteixo, A Coruña, once again hosted the company's 2026 Annual General Meeting. The event was opened by Marta Ortega Pérez in what was her fifth address to the shareholders of the Spanish fashion multinational, owner of Zara, since she officially became non-executive chair of its Board of Directors on April 1, 2022.

A summary video showcased the main initiatives from 2025 and early 2026. Afterwards, Ortega delivered her traditional annual review speech, welcoming Inditex shareholders to her fifth Annual General Meeting as head of the Board of Directors. Before handing over to Inditex's chief executive officer, Óscar García Maceiras, and the general secretary of the Board of Directors, Javier Monteoliva Díaz, who managed the meeting's proceedings under her supervision, Ortega looked beyond the figures. As is now customary under her leadership, Amancio Ortega's daughter focused on more than the magnificent results posted by the Spanish fashion multinational at the close of its last fiscal year in 2025. She instead highlighted the values, working dynamics, commitments, and strategies that underpin Inditex's operations, enabling the company to sustain its outstanding performance and achieve new record highs year after year.

The current climate is defined by two key factors. First, there are growing political and macroeconomic tensions across the globe, causing the fashion industry to look on with concern at events from America to Asia, via Europe and the Middle East. Second is the emergence of artificial intelligence (AI), which promises to completely revolutionise our lives and business dynamics. In her welcome message to shareholders, the Inditex chair addressed both these issues. She downplayed the potential impacts of global tensions and the capabilities of AI, subordinating them to what she considers Inditex's true strength and key differentiator: human value. This factor, she argued, allows Inditex to continue growing, generating value, and taking on an increasingly important role, not only within the fashion industry but also in today's challenging and disruptive world. Marta Ortega asserted that this human element has been and will remain the guiding principle for the Spanish fashion multinational and all eight of the commercial chains and brands in its portfolio.

Full speech by Marta Ortega Pérez during the 2026 Inditex Annual General Meeting

“Ladies and gentlemen, shareholders, members of the Board, good morning, and welcome to this Inditex Annual General Meeting, which I am greatly honoured to chair once again. To change is not to cease to be. Sometimes, changing is the clearest way to recognise oneself. Inditex has changed many times throughout its history. It has grown, learned, and incorporated new tools, capabilities, and ways of connecting with people. One thing has not changed: our way of understanding things. I believe that is one of the great responsibilities for those of us who are part of this company. We must advance without losing our core focus; look forward without forgetting our origins; and reach further while remaining close. The environment changes, sometimes very quickly. Technologies, habits, markets, and expectations all shift. Even amid this constant movement, something remains: people, their emotions, their sensitivity, and what they expect from us. For this reason, beyond a year's results, which are of course important, a deeper purpose must guide us. We must continue to generate a positive impact wherever we are: here in Galicia, in Spain, and in all the places we operate. This requires something simple to say but not always easy to uphold: staying true to our path.

In an increasingly uncertain environment, it is not about predicting everything. No one can do that. What is important is having the judgement to make decisions. This judgement does not come from one person or a single decision. It stems from a shared culture, a way of working built over many years that combines high standards; intuition; humility; flexibility; a non-conformist spirit; and closeness. A company like Inditex is built daily from thousands of decisions. These are made in stores, offices, logistics centres, factories, creative teams, and various markets. Often, these decisions are made by people who do not know each other but share the same approach. Herein lies something very valuable and also very difficult to explain externally. It is not just about what we do, but how we do it: how we listen to the customer; how we care for the product; how we perceive our stores; how we trust our teams; and how we always strive to improve, even when things are going well.

Artificial intelligence and major technological changes will open up new possibilities. They will also transform many aspects of our industry. Even in this context, we still believe the real value lies in people: in creativity; sensitivity; judgement; and empathy. These are qualities that cannot yet be fully measured. This understanding of business has allowed us to achieve something very difficult for an organisation of our size: to act with agility and a sense of responsibility. This scale is only valuable if it helps us get closer to our customers. Yes, we want to reach more people. We want to connect with more realities, more cultures, and more ways of life. We want to do so, however, without ever losing our connection with each individual.

Our mission has always been to make design, quality, creativity, and innovation accessible to a wide variety of people worldwide. Reaching so many people is not just about having a global presence. It means understanding different realities and maintaining a close, honest, and relevant relationship with them. Trends pass and fashion changes, but the connection with people remains. We are fortunate to be part of a profoundly human industry. Fashion accompanies the daily lives of millions. It is present in the simple, almost intimate daily gesture of choosing how to present ourselves to the world. We do not just dress ourselves; we also express and recognise ourselves. This is why fashion is not only about trends. It speaks of identity, emotion, belonging, and choosing how we want to feel and relate to others.

Understood this way, fashion is not just about appearance; it is also a language. It is a silent language that sustains craftsmanship, creativity, and sensitivity. It is a language that lives in the details. Precisely because of this dual dimension, both visible and invisible, it deserves to be created with conscience, respect, and intention. The video we watched showed some of this creative work. We are very proud of it. Above all, we are moved to see how our customers reinterpret it, make it their own, and share it. I am convinced we will continue in this direction because we have an extraordinary team. That, ladies and gentlemen, explains everything. None of this would be possible without the people who make Inditex what it is every day: our teams, with their talent and commitment; our suppliers and partners, who journey and evolve alongside us; and our customers, whose trust and high standards drive us to continuously improve. Ultimately, what has kept Inditex strong over time is not just its ability to change. It is its ability to do so without ever losing what defines it: its way of understanding things, its soul, its culture. That will remain our vision for the future: to reach ever further, connect with more people, and be more Inditex than ever, every single day.

Thank you to each of the more than 160,000 people who make up Inditex, and to those who work with us, from our partners to our suppliers. Thank you also, of course, to our customers for their time, trust, and for allowing us to be part of their daily lives. Before I conclude, I want to take this opportunity to express a very special thanks to our director, Rodrigo Echenique, for his twelve years of rigour, dedication, and commitment. Rodrigo, it has been an honour to share this journey with you. Thank you so much for all these years. You know you will always be a part of our shared history. To all of you, thank you very much for joining us today and especially for your constant trust. Our chief executive officer and general secretary will now manage the proceedings of this meeting under my supervision. I now give the floor to our chief executive officer, Mr Oscar García Maceiras. Thank you very much.

This article was translated to English using an AI tool.

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