Despite the ongoing economic volatility in the eurozone, austerity measures appear to have had little effect on consumers of trendy, mid-price apparel.
Spain's Inditex, the world's largest clothing company and owner of the Zara brand, reported a 30 per cent gain in first-quarter profit earlier this month.
Hennes & Mauritz (H&M), the second-largest global, last week posted its strongest profit increase in the 18 months to May. Both plan to expand further this year.
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