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Studies such as one conducted by Brand Finance account for the brand value of certain apparel.
Inditex and Uniqlo have announced salary increases demonstrating the value of talent in apparel.
Stores have become key spaces for sales in the clothing industry. apparel.
Inditex reached a new agreement salaries with Spanish unions and announced increases for its store employees, thereby consolidating examples of how the apparel industry seeks to face inflation with its talent.
Within apparelZara, Nike, Chanel or Louis Vuitton are brands that have stood out because they are the ones with the highest value and in some cases it is due to the aggressive formula of clothing sales fast fashion and in others it is because they have increased the sale of clothing, for launching viral pieces and strengthening this segment.
In a My dear, Brand Finance places brands like Nike with a value of 33 billion dollars, while zara appears with a brand value of 12 thousand 997 million dollars.
New salaries at Inditex
Inditex agreed with the General Union of Workers and the Union Confederation of Workers’ Commissions of Spain, a salary increase for the employees who attend its stores, which will go from between 18,000 to 24,500 euros gross, that is, between 358,000 and 489 thousand pesos, approximately.
The agreed annual gross salary will be defined based on seniority and the position in which the chain’s employee is located, with which it is possible to standardize all the salaries of dependents in Spain, which is one of the brand’s flagship markets.
The agreement establishes an interesting labor history in apparel, considering the value of this brand in the world and the influence that this agreement will have in the other countries where the company operates.
From the information that has emerged from this agreement between Inditex and unions, it transpires that it is located in Group 1 to dependents and cashiers with less than 18 months seniority. Group 2 includes shop assistants and cashiers with a career of between 18 months and four years in the company. This second group will have a salary of 20,000 euros per year (398,000 pesos).
Group 3 includes employees with more than four years of seniority working in the store and will receive a salary of 22,000 euros, while Group 4 only considers store managers and central cashiers, with a salary of 24,500 euros. .
As part of the agreement with unions, the increase will be retroactive from January 1, 2023, so employees will see an extra in their next payments.
This is not the only novelty that has arisen in labor matters within apparel, which has made adjustments to the income of its employees. Chains such as the Japanese Uniqlo announced that in its flagship market, Japan, it increased the salaries of its employees both in central offices and in stores by 40 percent.
“In the future, the new remuneration of each employee will be decided according to globally aligned qualification criteria,” the chain explained about the salary increase.
The increase in salaries is an interesting indicator in apparel of the value that the industry is giving to talent, to innovate in the way brands think about consumption and not only that, to rethink the success they have in being able to develop best practices in the market from labor actions such as retention and attraction of talent.