Last year, the Inditex group posted record revenue and profits, driven by a strong rise in sales. Tempe, as a leading supplier of shoes and accessories, benefited from this upsurge, leveraging its more than three decades of market experience. Through strategic moves, the Garcia Peralta family increased its influence by taking a substantial stake in the textile holding, reinforcing Tempe’s position as a top contributor to the group’s turnover. The year also saw a notable rebound in 2019 revenue amidst inflationary pressures and global conflicts, underscoring Tempe’s resilience and its role within Inditex’s expansive network.
Nevertheless, rising costs weighed on results, limiting gains at the holding level. The consolidated balance sheet submitted to the National Securities Market Commission shows a decline in net results for Tempe within the group’s jointly controlled companies, reflecting tighter margins despite the revenue boost.
In detail, the shoe company reported sales of 1,408 million euros for the year, marking an 7.8 percent increase over the prior year and surpassing the 1,400 million euro milestone for 2019 invoices. This growth aligns with Inditex’s broader revenue expansion, which climbed by 17 percent to reach 32,569 million euros. The improved top line did not fully translate into margin gains, as gross profit declined by 396 million euros and stood at a modest 1.2 percent higher than the previous year. Operating expenses rose by 14.9 percent to 246 million euros, with depreciation adding another 25 million, eroding overall profitability. Net income reached 105 million euros, down from 119 million the year before, a decline of 11.7 percent.
Tempe’s headquarters are in Elche, a detail highlighted in company records. The year also included dividend activity, with Tempe distributing 27 million euros to Inditex, a rise of two million from the prior year. This implies a roughly similar dividend yield for García Peralta through the Promociones Azarbe holding, depending on shareholding arrangements.
origins
Tempe was established in 1989 through a 50 percent collaboration among Elche-based businessmen, led by Vincent Garcia, and the Garcia Peralta family with roots in Garvalin. The holding later became part of the portfolio founded by Amancio Ortega, now led by Martha Ortega. Tempe oversees the design, marketing, and distribution of footwear and accessories for seven Inditex brands: Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, and Zara Home.
Tempe owners’ main holding company exceeds 19 million profits
Tempe employs more than 2,000 people, with over 140 dedicated to product design. The firm notes substantial operations in the Elche Business Park. A recent expansion project included the creation of the Tempe 3 logistics satellite and plans for an industrial zone expansion. In 2019, the company announced the purchase of a plot in Sagunto Park to develop a new logistics center, signaling continued growth and a broader distribution footprint.
Through its strong alliance with Inditex, García Peralta has formed a broader business group that spans various sectors, including property development, hospitality, and agriculture. The collaboration reflects Tempe’s strategic role as a design, manufacturing, and distribution hub within a large multinational supply chain, and it illustrates how a concentrated portfolio can influence the broader market presence of its parent groups.