Fashion News

Massimo Dutti faces earnings decline as office wear becomes less popular among high street shoppers

Earnings from the brand dropped 9.6 per cent in the past fiscal year, according to the Spanish fast fashion chain Inditex, which owns Massimo Dutti

Massimo Dutti is synonymous with its tailored finishes and traditional office wear, but high street shoppers are now looking for more casual options

Massimo Dutti’s owner Inditex is struggling to reverse an earnings decline at its formal-wear chain as mid-range office wear is hit particularly hard by the cost-of-living crisis.

Earnings from the brand dropped 9.6 per cent in the past fiscal year, Inditex reported Wednesday. Revenue stood at €1.6 billion, 16 per cent below the level of 2019, making Massimo Dutti the only Inditex chain that hasn’t yet recovered from the pandemic.

Inditex, which is accustomed to ...