This clothing company whose CEO is richer than Warren Buffett is blowing the competition out of the water

Ashley Lutz

Zara's business is on fire. 

Inditex, the fast-fashion retailer's parent company based in Spain, recently said profits in the first quarter jumped by a whopping 28%. Sales were up by an impressive 14%.

Zara's mysterious founder, Amancio Ortega, is now the world's second-richest man — surpassing even Warren Buffet.

The retailer, which sells trendy men's and women's clothing, is also opening hundreds of new stores, most notably in Taiwan, Hong Kong, and Macau. The brand is also expanding in the US.

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