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Retailer Zara co-founder Rosalia Mera dies

Tags: Zara

The co-founder of Spanish retail giant Inditex, which owns the Zara clothing chain, Rosalia Mera, has died.

"The Inditex Group is deeply saddened to learn of the death of Rosalia Mera," Inditex, which owns the retailer, said in a statement.

The company did not release any details of her death. Spain's El Pais newspaper said Mera died of a brain haemorrhage,

The 69-year-old was Spain's richest woman, according to Forbes magazine, and held almost a 7-percent stake in the company.

She co-founded the first Zara location in La Coruna, Spain in 1975 with her ex-husband Amancio Ortega. He is the group's former chairman, and is still represented on the board, but without executive functions. He holds a 59-percent stake in the company and is the world's third-richest man, according to Forbes.

In addition to Zara and the Zara Home chain, Inditex also owns retailers Masssimo Dutti, Oysho, Pull & Bear, Stradivarius, Uterque and Bershka. There are 1,763 Zara stores globally. Inditex has 6,058 stores and 120,000 employees. CTV Two CTV News CTV News Channel BNN - Business News Network CP24