Spain's richest woman and co-founder of ZARA dies at 69

Spain's richest woman, Rosalia Mera, has died aged 69.

She suffered a stroke on the Mediterranean island of Menorca and died Thursday night at a hospital in La Coruna, the city where she was born in Spain's Galicia region.

The self-made billionaire made her fortune by co-founding the High Street brand Zara in 1975 in La Coruna with her then-husband, Armancio Ortega.



Loss: Rosalia Mera died on Thursday after reportedly suffering a stroke


The retail chain specialises in low-priced versions of designer styles - a formula that made it in hit in Spain and other countries around the world.

There are currently 1,763 Zara stores globally and their profits have been boosted by support from trendsetters such as the Duchess of Cambridge and Kim Sears wearing their clothes.

Ms Mera was a major stakeholder in Inditex SA, the owner of the Zara chain that also owns retailers Bershka, Masssimo Dutti, Oysho, Pull & Bear, Stradivarius, Uterque and Zara Home.



Success: She co-founded Zara in 1975 and it went on to be a global brand with stores on High Streets around the world





Fans of the brand: Sales soared after Kate wore a Zara dress the day after she married Prince William, left, while Kim Sears wore a dress from the store as she watched boyfriend Andy Murray on his way to victory at Wimbledon this year


She held 5.1 per cent of Inditex, and her fortune was estimated by Forbes at £3.9bn. The magazine said she was the world's 195th richest person but held the number one spot on its list for 'wealthiest self-made woman'.

Her remarkable rise in fortune began after she quit school at the age of 11 and became a seamstress.

She co-founded the first Zara store in 1975 in La Coruna with Ortega, who is listed by Forbes as the world's third-richest person. The couple divorced in 1986.



Started out as a seamstress: Ms Mera's fortune was this year estimated by Forbes at £3.9bn


Saddened: Her company has paid tribute to the businesswoman

They were originally going to call the store Zorba after the 'Zorba the Greek' movie, but as there was a bar with that name not far from the site of their shop, the letters on the Zorba sign were rearranged to spell out Zara.

As well as the co-founder of Zara, she became known for voicing opposition to the Spanish conservative government's plans to change the country's abortion laws.

She also opposed government cutbacks in the name of austerity affecting Spain's cherished education and national health care programmes.

The Inditex Group today issued an statement on their website expressing its condolences.

It said: 'The Inditex is deeply saddened to learn of the death of Rosalia Mera.

'The Group wishes to send its sincere condolences to her loved ones and friends at this extremely difficult time, after the loss of a person who contributed so much to the origins and development of the Company.'



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