Inditex moves into accessories

Spanish retail group Inditex, which owns Zara and Massimo Dutti, is creating a standalone accessories-only concept.

The business confirmed it is designing a new chain that will only sell fashion accessories such as footwear and bags. However, it said that it had no firm launch date for the concept and declined to give any further details.

Reports in the Spanish press last week suggested Inditex was planning to call the chain Uterque, which is Latin for "both" or "each side". The retailer has already registered the Uterque name.

Inditex already sells fashion accessories through its Zara, Bershka, Stradivarius and Massimo Dutti chains. Zara is particularly well known for its strong handbag and footwear offer, although its range is relatively small when compared with other multiples such as Topshop and New Look. 

Inditex's new concept is likely to go head to head with high street accessories businesses such as Accessorize, Claire's and Muse, which is partly backed by Sir Philip Green. However, it is unclear whether a UK launch of the concept is in the pipeline.

Inditex has more than 3,350 stores in 68 countries. It had sales of more than 8 billion (£5.57bn) in 2006 and made a profit of 1 bn (£697 million).