Zara+Roundtable+Discussion Transcript

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Zara Roundtable Discussion

|00:00:03.0 >> |PANKAJ GHEMAWAT: What are the core features of the ZARA business model and when were they | | |established? | | |JOSÉ MARÍA CASTELLANO: The original idea of combining distribution with manufacturing began with the | | |founder. | | |This model, which was intuitively seen to have some advantages, was perfected by introducing | | |technology and especially human resources. | | |It's not the same to have ten stores as 1,300 stores or one country vs. 40 countries. | | |But the model has been the same since the beginning. | | |It improved over time, through the incorporation of technology and the fact that the company is | | |larger and more complex than it had been. |

|00:00:43.0 >> |JUAN CARLOS R. CEBRIÁN: I would add only one key word, which is: innovation. | | |This company is in a state of constant innovation. What Jose María said is true, and the last thing | | |is: when they [the competition] get to where we are, we will have invented something new. | | |What we cannot do is stop. This is the key [to this company], to not stop, to be constantly | | |introducing new things. | | |DIEGO COPADO: If we draw a diagram of our marketing mix from the standpoint of public relations, we | | |have the best creative agency in the world, which is our real estate department. | | |They choose windows in the best sites in the best and largest cities in the world. | | |We have some designers and sales people who create designs and the most attractive products for our | | |customers. | | |And we have store designers and people who design the window displays who put together the layouts or| | |the most fantastic creations that an advertising department could imagine. | | |All this combined allows us to project a very powerful message. | | |Which is that, based on the customer's experience, and [the subsequent] word-of-mouth, every time you| | |open a store, the trajectory of your growth is improved and the awareness of the product increases. |

|00:02:10.0 >> |JESÚS VEGA: When you grow from a small thing into something bigger, the tendency is for a relaxation | | |of the very values that existed with the start of the company. | | |JOSÉ LUIS NUENO: What are those values? | | |JESÚS VEGA : Freedom, perfectionism, responsibility, to respond quickly, to be flexible, and above | | |all, respect for others and the need to be consistent when acting with this freedom. | |...
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