Who is Amancio Ortega?
We’ve all heard about the Zara store, right? We may even have bought something from one of their stores. Perhaps it is one of the most well-known and consumed shops in the world, because it has known how to position itself as a brand with a lot of style, but at the same time be accessible.
Behind this well-known company there is Amancio Ortega; a successful entrepreneur with a fortune estimated at 63.2 billion euros, being the sixth fortune in the world and the first in Spain.
Beginnings of Amancio Ortega
Being a 14-year-old “kid”, he began working as a deliveryman in a shirt store, and, shortly after, he was hired at a haberdashery where he met his wife Rosalía Mera Goyonechea. Thanks to his job opportunities, he acquired knowledge about the textile sector and decided to venture into his own business.
His main objective was to “offer fashion at a low price” and he managed to reduce costs to form a business that would manufacture, distribute and sell. So, in 75, the first Zara store was born in Torreiro de La Coruña.
But the story didn’t end here. Since ten years later he created Inditex, a company that controls the activities of Zara and the other group companies. First, he focused on the textile industry, creating brands also known as Pull & Bear, Bershka, and Oysho, as well as Massimo Dutti and Stradivarius.
The Inditex Empire and the Amancio Ortega Foundation
All these achievements were not a stop for the successful businessman, so he decided to diversify his business initiative towards other sectors such as real estate, finance, car dealerships.
And although he has had a lot of entrepreneurial vision and has been very successful in business, Amancio has also focused on seeking social well-being through the inauguration of a foundation, The Amancio Ortega Foundation. Established in 2001 and its objective is education in the branches of the field of social support. He has an educational program where he has given scholarships to students, allowing them to study in the United States and Canada.
Since 2007, the businessman Amancio Ortega has appeared in the top 10 of the lists of the richest men in the world. Now we know a little more about the beginnings of his later successes.
The story of this great and successful businessman makes us think a little about having a business vision established, defining where the company will go in the long term. The importance of having this well-defined, in addition to having a source of inspiration, leads us to innovation in times of difficulty.
The current pandemic has shown us that a business can adapt to any circumstance. As long as, as well as Amancio, we have an excellent business vision.
If you want to improve your skills as an entrepreneur, businessman or simply want to improve your personal finances, we recommend you consult one of these great articles:
Perhaps reading these articles, you will not get the economic wealth of Amancio Ortega, but surely you will improve your finances and you will be able to live with much more peace of mind.