Free Essay

Timeline of French Rev

In:

Submitted By imans17
Words 906
Pages 4
Principal Dates and Time Line of the
French Revolution First phase: Harvests have failed and starvation stalks France, the peasantry are in open and continuing revolt across the country. | June-July 1788: | Insurrection at Grenoble. | 8th August 1788: | Louis XVI convokes État-général on suggestion of former finance minister Jacques Necker, to hear grievances. | 5th May 1789: | Opening of the État-général at Versailles. | 17th June 1789: | Representatives of the tiers état form a National Assembly swearing not to leave until a new constitution is established. | 23rd June 1789: | King rejects Resolutions of the tiers etat. | 9th July 1789: | National Assembly declares itself Constituent Assembly. | 12th July 1789: | Necker is dismissed. 50,000 citizens arm themselves with pikes and form National Guard. | 14th July 1789: | Armed citizens storm and capture the Bastille. | 15th July 1789: | Lafayette appointed Commander of National Guard. | 17th July 1789: | ‘Great Fear’ begins as peasants revolt across France. | 5-11 August 1789: | National Assembly decrees abolition of feudalism. | 26th August 1789: | National Assembly decrees Declaration of the Rights of Man and the Citizen | 5th October 1789: | Women lead delegation to King in Versaille demanding bread. After scuffles, they are fobbed off by the King. | 6th October 1789: | King returns to Paris. | 2nd November 1789: | Constituent Assembly decrees expropriation of Church property. | 16th December 1789: | National Assembly legislates for departments, etc. | 28th January 1790: | Removal of civil disabilities against Jews. | 13th February 1790: | Suppression of religious orders and vows. | 19th June 1790: | Abolition of nobility and titles. | 14th July 1790: | Civil Constitution, subordinating the Church to the civil government, inaugurated by Louis XVI. | 18th August 1790: | First counter-revolutionary assembly at Jalès. | 30th January 1791: | Mirabeau elected President of the French Assembly. | 2nd March 1791: | Abolition of Royal guilds and monopolies. | 15th May 1791: | Black citizens of French colonies granted equal rights. | 21st June 1791: | Louis XVI attempts to flee to Varennes but is recognised and forcibly returned to Paris. | 15th July 1791: | Assembly declares King inviolable and restores his prerogatives. | 17th July 1791: | National Guard fires on crowd protesting against restoration of the King. | 13th September 1791: | King formally accepts Constitution. | 30th September 1791: | Constituent Assembly dissolves. | 1st October 1791: | Legislative Assembly commences. | 9th November 1791: | Civil marriage and divorce instituted. Assembly orders all émigrés to return under pain of death. | 11th November 1791: | King vetoes Assembly’s ruling on émigrés. | January-March 1791: | Food riots across Paris. | 9th February 1791: | Property of émigrés forfeited. | 20th April 1792: | France declares war on Austria, but French army flees at sight of the enemy. | 20th June 1792: | Jacobin Insurrection, again thwarted by gestures by the King, but Jacobins continue to defy the Assembly. | 25th July 1792: | Duke of Brunswick publishes call for allied attack on France. | 10th August 1792: | Jacobin masses storm the Tuileries Palace, massacring the Swiss Guard, and the King imprisoned. | 19th August 1792: | Lafayette flees to Austria. | 22nd August 1792: | Royalist riots in the Vendée, Britanny; armies suffer setbacks at Langwy and Verdun. | Second phase: Henceforth the struggle is between bourgeois and proletariat, rather than nobility and bourgeoisie. | 1st September 1792: | General mobilisation, citizens sent to the front. | 2nd September 1792: | Danton instigates the massacre of about 1,200 Royalists held in Parisian prisons. | 20th September 1792: | French forces defeat the invading force at Valmy. Henceforth the Revolution would enjoy victory in its military conflicts. | 21st September 1792: | The Convention elected by the Legislative Assembly commences, abolishes monarchy; day one of the Republican Calendar. | 19th November 1792: | “Edict of Fraternity” offers aid to “subject peoples.” | 11th December 1792: | Trial of the king begins. | 21st January 1793: | Louis XVI executed. | 1st February 1793: | France declares war on Britain and Holland. | 25th February 1793: | Food riots in Paris. | 6th April 1793: | Committee of Public Safety established. | 24th April 1793: | Marat put on trial for complicity in September massacre but is acquitted. | 4th May 1793: | Maximum price of bread imposed. | 27th May 1793: | Uprising of Paris Commune against the Convention | 2nd June 1793: | Expulsion of the Girondists (the party of compromise) from all offices. The Commune of Paris becomes the centre of power. | 24th June 1793: | Jacobin Constitution accepted by the Convention. | 13th July 1793: | Marat, “the people’s friend,” murdered by Charlotte Corday. | 17th July 1793: | Corday executed amid popular outrage. | 1st August 1793: | Metric system of measures adopted. | 23rd August 1793: | Levée en masse (conscription) decreed. | 4-5th September 1793: | Popular riots in Paris. | 17th September 1793: | “Law of Suspects” initiates the Terror. | 14th October 1793: | Marie-Antoinette tried and executed. | 23rd October 1793: | Republican Calendar decreed. | 24th October 1793: | 22 Girondists tried and executed. | 10th November 1793: | Festival of Liberty and Reason. | 24th March 1794: | Robespierre, the Committee of Public Safety and Jacobin Club denounce the Hébertists and Dantonists on framed-up charges and execute all the popular leaders. Robespierre becomes virtually the dictator. | 18th May 1794: | Robespierre decreed the new religion of the Supreme Being. | 8th June 1794: | The day of inauguration of the Supreme Being. | 10th June 1794: | (22 Prairial) procedures for mass trial and execution implemented. Victims will go to the guillotine now in batches of 50 or 60 at a time. An estimated 2,750 are executed of whom the great majority are poor. | 27th July 1794: | (9th Thermidor) Convention calls for arrest of Robespierre. Robespierre attempts insurrection which flops, is arrested and executed. After about 150 of his supporters are done away with, the Terror is over. |

Similar Documents

Premium Essay

Chinese History

...Self-Strengthening Movement Hundred Days' Reform and Aftermath Republican Revolution of 1911 q Republican China r r r Nationalism and Communism s Opposing the Warlords s Consolidation under the Guomindang s Rise of the Communists Anti-Japanese War Return to Civil War q People's Republic Of China r r Transition to Socialism, 1953-57 Great Leap Forward, 1958-60 r r r r r Readjustment and Recovery, 1961-65 Cultural Revolution Decade, 1966-76 s Militant Phase, 1966-68 s Ninth National Party Congress to the Demise of Lin Biao, 1969-71 s End of the Era of Mao Zedong, 1972-76 Post-Mao Period, 1976-78 China and the Four Modernizations, 1979-82 Reforms, 1980-88 q References for History of China [ History of China ] [ Timeline ] Historical Setting The History Of China, as documented in ancient writings, dates back some 3,300 years. Modern archaeological studies provide evidence of still more ancient origins in a culture that flourished between 2500 and 2000 B.C. in what is now central China and the lower Huang He ( orYellow River) Valley of north China. Centuries of migration, amalgamation, and development brought about a distinctive system of writing, philosophy, art, and political organization that came to be recognizable as Chinese civilization. What makes the civilization unique in world history is its continuity through over 4,000 years to the...

Words: 41805 - Pages: 168

Free Essay

Memory

...ARTICLE IN PRESS Energy 33 (2008) 1591–1596 Contents lists available at ScienceDirect Energy journal homepage: www.elsevier.com/locate/energy Energy efficiency, security of supply and the environment in South Africa: Moving beyond the strategy documents A.B. Sebitosi à Department of Electrical Engineering, University of Cape Town, Rondebosch 7701, South Africa a r t i c l e in fo abstract Article history: Received 18 April 2008 Energy efficiency is one of the most potent and cost effective ways of meeting the demands of sustainable development. It has in fact been referred to as the best energy resource. Way back in 2005 the South African Department of Minerals and Energy (DME) published its Energy Efficiency Strategy in support of some of the objectives enlisted in the 1998 White Paper on Energy Policy. The Strategy set a national target for energy efficiency improvement of 12% by 2015 against the baseline year 2000. The document further predicted that, with a business as usual model of energy usage, at the projected rate of national economic development, there would be a need to invest in new power generating capacity by around 2007. Despite the policy foresight and seemingly enthusiastic efforts, though, the dawn of 2008 saw the country gripped in an electric power crisis, with a capacity shortfall of over 10%. This paper looks at what could have gone wrong, examines energy efficiency policies and measures in other countries and how these lessons...

Words: 6935 - Pages: 28

Free Essay

Chikungunya and Zika Virus

...Europe’s journal on infectious disease epidemiolog y, prevention and control Special edition: Chikungunya and Zika virus October 2014 Featuring • Spread of chikungunya from the Caribbean to mainland Central and South America: a greater risk of spillover in Europe? • Aspects of Zika virus transmission • Cases of chikungunya virus infection in travellers returning to Spain from Haiti or Dominican Republic, April-June 2014 www.eurosurveillance.org Editorial team Editorial advisors Based at the European Centre for Disease Prevention and Control (ECDC), 171 83 Stockholm, Sweden Albania: Alban Ylli, Tirana Telephone number Belgium: Sophie Quoilin, Brussels +46 (0)8 58 60 11 38 E-mail eurosurveillance@ecdc.europa.eu Editor-in-chief Ines Steffens Austria: Reinhild Strauss, Vienna Belgium: Koen De Schrijver, Antwerp Bosnia and Herzogovina: Nina Rodić Vukmir, Banja Luka Bulgaria: Mira Kojouharova, Sofia Croatia: Sanja Musić Milanović, Zagreb Cyprus: to be nominated Czech Republic: Bohumir Križ, Prague Denmark: Peter Henrik Andersen, Copenhagen Senior editor Estonia: Kuulo Kutsar, Tallinn Kathrin Hagmaier Finland: Outi Lyytikäinen, Helsinki Scientific editors Karen Wilson Williamina Wilson France: Judith Benrekassa, Paris Germany: Jamela Seedat, Berlin Greece: Rengina Vorou, Athens Hungary: Ágnes Csohán, Budapest Assistant editors Iceland: Haraldur Briem, Reykjavik Alina Buzdugan Ireland: Lelia Thornton...

Words: 38087 - Pages: 153

Premium Essay

Types of Transformers

...Table of Contents 1 Introduction 3 1.1 Working Principle 3 1.1.1 Mutual Inductance 3 1.1.2 Ideal Transformer 3 1.1.3 Real Transformer 3 1.2 Main Types 3 1.2.1 Step-up Transformer 3 1.2.2 Step-down Transformer 3 1.3 Transformer Ratios 3 1.3.1 Turn Ratio 3 1.3.2 Voltage Ratio 3 1.3.3 Power Ratio 3 1.4 Uses and Applications 3 2 History of Transformer 3 2.1 A.C or D.C 3 2.2 Need of Transformer 3 2.3 Invention of Transformer 3 2.4 First Commercial Use 3 2.5 Transformer Development Timeline [13] 3 1830s 3 1836 3 1876 3 1878 -1883 3 1881 3 1880-1882 3 1882 - 3 1884 3 1884 3 1885 3 1885 3 1886 3 Later 1880s 3 1889 3 1891 3 1891 3 1880s - Today 3 3 Working of Transformer 3 3.1 Construction 3 3.1.1 Core Construction 3 3.1.2 Winding Arrangements 3 3.2 Working 3 4 Types of Transformer 3 4.1 On the Basis of Construction 3 4.1.1 Core Type Transformer 3 4.1.2 Shell Type Transformer 4 4.2 On the Basis Their Purpose 5 4.2.1 Step up Transformer 5 4.2.2 Step down Transformer 6 On the Basis of Type of Supply 7 References: 8 1 Introduction A transformer is an electrical device that transfers electrical energy from one circuit to another circuit using inductively coupled conductors. In other words by putting two coils of wire close together while not touching, the magnetic field from the first coil called the primary winding effects the other coil (called the secondary coil). This effect is called...

Words: 4710 - Pages: 19

Free Essay

Google China Case

...Searching for Internet Freedom in China_GALLEYED (Do Not Delete) 3/18/2013 9:19 PM SEARCHING FOR INTERNET FREEDOM IN CHINA: A CASE STUDY ON GOOGLE’S CHINA EXPERIENCE JYH-AN LEE,* CHING-YI LIU,** AND WEIPING LI*** ABSTRACT ........................................................................................ 406 INTRODUCTION ................................................................................. 406 I. THE NATURE OF THE INTERNET AND GOOGLE’S BUSINESS ............ 408 A. The Evolving Nature of the Internet................................. 408 B. The Study of Google and its China Experience................ 409 II. GOOGLE.CN AND CHINA’S INTERNET POLICY ............................... 412 A. The Story of Google.cn .................................................... 413 B. China’s Internet Policy in the Case of Google.cn............. 419 1. Technological Control of Search Engines .................. 419 2. Legal Control of Search Engines................................ 421 III. POLICY IMPLICATIONS FROM THE CASE OF GOOGLE.CN .............. 423 A. Global Network, Local Internet........................................ 424 B. Leveraging Commercial Power to Regulate the Internet . 426 IV. THE ACCOUNTABILITY CRISIS IN INTERNET GOVERNANCE ......... 428 A. The Problem of Internet Accountability ........................... 428 B. Solutions to the Digital-Accountability Problem ............. 431 CONCLUSION.......................................................................

Words: 13967 - Pages: 56

Free Essay

Vocabulary and Main Characters

...appened in between 1800-1850 in England? 1800: Jan First soup kitchens to relieve hungry poor in London Autumn Robert owen begins philanthropic reform for workers employed in his mills at New Lanark Maria Edgeworth publishes Castle Rackrent, one of the earliest historical novels 1801 Steam carriae of Richard Trevithick carries road passengers at Camborne, Cornwall 1802 June 22 Health and Morals of Apprentices Act, first protective factory legislation, no children under 9 in mills,maximum 12-hour day for children Madame Tussaud mounts the first waxwork exhibition in Lyceum Hall, London Chalotte Dundas, a wooden ship with a single paddle-wheel, covers 20 miles of the Forth and clyde Canal, the world's first steam vessel. 1805 October 21 Battle of Trafalgar, Nelso defeats Franco-Spanish fleet, but is mortally wounded. 1807 Mar 25 Slave Trade abolished in all British possessions June 4 Federick Winsor illuminates part of pall Mall with gas lighting. 1811 Regency Act in favour of Prince of Wales because of George III's insanity. Mar organised machine-breaking (Luddism) in Nottingham Jane Austen publishes Sense and Sensibility Fashionable women reject tight corsets and petticoats 1812 Mar Publication of first 2 cantos of Byron's Childe Harold's Pilgrimage causes sensation: "I woke one morning and found myself famous" autumn Countess Lieven, wife of russian ambasador, introduces waltz to London 1813 Jane Austen publishes Pride and Prejudice Smooth-wheeled...

Words: 4602 - Pages: 19

Free Essay

The Logistic Map

...Chaotic Growth with the Logistic Model of P.-F. Verhulst Hugo Pastijn Department of Mathematics, Royal Military Academy B-1000 Brussels, Belgium Hugo.Pastijn@rma.ac.be Summary. Pierre-Fran¸ois Verhulst was born 200 years ago. After a short biograc phy of P.-F. Verhulst in which the link with the Royal Military Academy in Brussels is emphasized, the early history of the so-called “Logistic Model” is described. The relationship with older growth models is discussed, and the motivation of Verhulst to introduce different kinds of limited growth models is presented. The (re-)discovery of the chaotic behaviour of the discrete version of this logistic model in the late previous century is reminded. We conclude by referring to some generalizations of the logistic model, which were used to describe growth and diffusion processes in the context of technological innovation, and for which the author studied the chaotic behaviour by means of a series of computer experiments, performed in the eighties of last century by means of the then emerging “micro-computer” technology. 1 P.-F. Verhulst and the Royal Military Academy in Brussels In the year 1844, at the age of 40, when Pierre-Fran¸ois Verhulst on November c 30 presented his contribution to the “M´moires de l’Acad´mie” of the young e e Belgian nation, a paper which was published the next year in “tome XVIII” with the title: “Recherches math´matiques sur la loi d’accroissement de la e population” (mathematical investigations of the law of...

Words: 138629 - Pages: 555

Free Essay

Converse Casestudy

...Converse  Inc.   Situational  Analysis       ID:  936605550   ID:  911484064   ID:  933327329   ID:  919538922     ID:  938345647         Table  of  Contents   Company  Analysis  ………………………………………………………………………………………………………………………………..  3-­‐6                   Consumer  Analysis………………………………………………………………………………………………………………………….…….  6-­‐7                                                                                                     Product  Analysis……………………………………………………………………………………………………………………..…………….  7-­‐9   Competitive  Analysis…………………………………………………………………………………………………………………………….  9-­‐14   Market  Analysis…………………………………………………………………………………………………………………………………….  14-­‐15   Other  Considerations  (Past  and  Present  Communications)……………………………………………………………………  15-­‐17   SWOT………………………………………………………………………………………………………………………………………………….…  18-­‐19   Primary  Research  Considerations…………………………………………………………………………………………………………..  19   Work  Cited  and  Appendix………………………………………………………………………………………………………………………  20-­‐29               2     ID:  936605550   ID:  911484064   ID:  933327329   ...

Words: 8366 - Pages: 34

Premium Essay

Grolsch

...PANKAJ GHEMAWAT JORDAN MITCHELL SM – 1529 – E O – 308 - 029 Grolsch: Growing Globally In November 2007, SAB Miller, the world´s second largest brewer,1 announced the friendly takeover of the world’s 51st largest, Royal Grolsch N.V. of the Netherlands, for €816m in cash - 84% more than Grolsch’s value over the previous month. Nick Fell, SABMiller’s Marketing Director, explained the logic of the deal: “[Grolsch is] a fantastic brand. It’s North European, it’s a fantastic product, it’s got unimpeachable brewing credentials and authenticity and credibility. And it’s a damn good product. So for anybody interested in developing their premium beer business, this is an absolute peach of a brand to get hold of… we see huge potential for it in our global footprint, particularly in markets like Latin America and Africa where we’ve got a strong route to market but where the premium beer business is still in its infancy.”2 Grolsch had hitherto focused on developed markets, particularly the UK, US, Canada, Australia, New Zealand and France, in pursuit of its goal of becoming one of the world’s top 10 global beer brands. Groslch was already the world’s 21st largest global brand, measured by international (nondomestic) volume (see Exhibit 1). International volume had grown to account for slightly over onehalf of total volume and, going forward, seemed to offer much more potential. Drinkers often rated Grolsch higher than larger brands, including Heineken, the top global brand as well as...

Words: 12737 - Pages: 51

Premium Essay

Grolsch

...PANKAJ GHEMAWAT JORDAN MITCHELL SM – 1529 – E O – 308 - 029 Grolsch: Growing Globally In November 2007, SAB Miller, the world´s second largest brewer,1 announced the friendly takeover of the world’s 51st largest, Royal Grolsch N.V. of the Netherlands, for €816m in cash - 84% more than Grolsch’s value over the previous month. Nick Fell, SABMiller’s Marketing Director, explained the logic of the deal: “[Grolsch is] a fantastic brand. It’s North European, it’s a fantastic product, it’s got unimpeachable brewing credentials and authenticity and credibility. And it’s a damn good product. So for anybody interested in developing their premium beer business, this is an absolute peach of a brand to get hold of… we see huge potential for it in our global footprint, particularly in markets like Latin America and Africa where we’ve got a strong route to market but where the premium beer business is still in its infancy.”2 Grolsch had hitherto focused on developed markets, particularly the UK, US, Canada, Australia, New Zealand and France, in pursuit of its goal of becoming one of the world’s top 10 global beer brands. Groslch was already the world’s 21st largest global brand, measured by international (nondomestic) volume (see Exhibit 1). International volume had grown to account for slightly over onehalf of total volume and, going forward, seemed to offer much more potential. Drinkers often rated Grolsch higher than larger brands, including Heineken, the top global brand as well as...

Words: 12737 - Pages: 51

Free Essay

The Guyana

...Guyana From Wikipedia, the free encyclopedia Not to be confused with French Guiana or Guinea. For other uses, see Guyana (disambiguation). Coordinates: 5°00′N 58°45′W Co-operative Republic of Guyana[1] Flag Coat of arms Motto: "One People, One Nation, One Destiny" Anthem: "Dear Land of Guyana, of Rivers and Plains" Capital (and largest city) Georgetown 6°46′N 58°10′W Official language(s) English Recognised regional languages Portuguese, Hindi, Spanish, Akawaio, Macushi, Wai Wai, Arawak, Patamona, Warrau, Carib, Wapishiana, Arekuna National language Guyanese Creole Ethnic groups (2002) East Indian 43.5% Black (African) 30.2% Mixed 16.7% Amerindian 9.1% Other 0.5%[2][3] Demonym Guyanese Government Unitary Semi-presidential republic - President Donald Ramotar - Prime Minister Sam Hinds Legislature National Assembly Independence - from the United Kingdom 26 May 1966 - Republic 23 February 1970 Area - Total 214,970 km2 (84th) 83,000 sq mi - Water (%) 8.4 Population - July 2010 estimate 752,940[2]1 (161st) - 2002 census 751,223[3] - Density 3.502/km2 (225th) 9.071/sq mi GDP (PPP) 2011 estimate - Total $5.783 billion[4] - Per capita $7,465[4] GDP (nominal) 2011 estimate - Total $2.480 billion[4] - Per capita $3,202[4] HDI (2010) 0.611[5] (medium) (107th) Currency Guyanese dollar (GYD) Time zone GYT Guyana Time (UTC-4) Drives on the left ISO 3166 code GY Internet TLD .gy Calling code 592 1 Around...

Words: 8406 - Pages: 34

Free Essay

Havard Case

...9-703-497 REV: DECEMBER 21, 2006 PANKAJ GHEMAWAT JOSÉ LUIS NUENO ZARA: Fast Fashion Fashion is the imitation of a given example and satisfies the demand for social adaptation. . . . The more an article becomes subject to rapid changes of fashion, the greater the demand for cheap products of its kind. — Georg Simmel, “Fashion” (1904) Inditex (Industria de Diseño Textil) of Spain, the owner of Zara and five other apparel retailing chains, continued a trajectory of rapid, profitable growth by posting net income of € 340 million on € revenues of € 3,250 million in its fiscal year 2001 (ending January 31, 2002). Inditex had had a heavily € oversubscribed Initial Public Offering in May 2001. Over the next 12 months, its stock price increased by nearly 50%—despite bearish stock market conditions—to push its market valuation to € 13.4 € billion. The high stock price made Inditex’s founder, Amancio Ortega, who had begun to work in the apparel trade as an errand boy half a century earlier, Spain’s richest man. However, it also implied a significant growth challenge. Based on one set of calculations, for example, 76% of the equity value implicit in Inditex’s stock price was based on expectations of future growth—higher than an estimated 69% for Wal-Mart or, for that matter, other high-performing retailers.1 The next section of this case briefly describes the structure of the global apparel chain, from producers to final customers. The section that follows profiles three of Inditex’s...

Words: 15358 - Pages: 62

Premium Essay

Critical Analysis of Spin-Offs

...Value Creation of Spin-offs and Carve-outs Dissertation zur Erlangung der Würde eines Doktors der Staatswissenschaften vorgelegt der Wirtschaftswissenschaftlichen Fakultät der Universität Basel von Roger Rüdisüli von Amden SG Difo-Druck GmbH Bamberg 2005 Genehmigt von der Wirtschaftswissenschaftlichen Fakultät der Universität Basel auf Antrag von Prof. Dr. Heinz Zimmermann und Ass.-Prof. Dr. Wolfgang Drobetz. Basel, den 10. Mai 2005 Der Dekan Prof. Dr. Heinz Zimmermann Acknowledgements V Acknowledgements My dissertation would not have been possible without the support of various people to whom I would like to express my sincere gratitude. Firstly, I would like to thank my academic supervisors Heinz Zimmermann and Wolfgang Drobetz of the University of Basel (Switzerland) for their academic guidance, encouraging support and the very pleasant cooperation. Special thanks goes to Jürg Wicki for his advice in selecting the subject, structuring the dissertation, and choosing its fundamental building blocks. I am also heavily indebted to Neelesh Singhal and his team at McKC in Madras (India) who helped me to find the vast amount of data used in my research. Without their assistance it would have been impossible to obtain the data. I am also grateful to Sabine Keller-Busse and the partners of McKinsey & Company in the Zurich office for making my educational leave possible and for the financial assistance provided. My acknowledgement also goes to Thomas Bollinger...

Words: 123097 - Pages: 493

Premium Essay

Zara Journal

...9-703-497 REV: DECEMBER 21, 2006 PANKAJ GHEMAWAT JOSÉ LUIS NUENO ZARA: Fast Fashion Fashion is the imitation of a given example and satisfies the demand for social adaptation. . . . The more an article becomes subject to rapid changes of fashion, the greater the demand for cheap products of its kind. — Georg Simmel, “Fashion” (1904) Inditex (Industria de Diseño Textil) of Spain, the owner of Zara and five other apparel retailing chains, continued a trajectory of rapid, profitable growth by posting net income of € 340 million on € revenues of € 3,250 million in its fiscal year 2001 (ending January 31, 2002). Inditex had had a heavily € oversubscribed Initial Public Offering in May 2001. Over the next 12 months, its stock price increased by nearly 50%—despite bearish stock market conditions—to push its market valuation to € 13.4 € billion. The high stock price made Inditex’s founder, Amancio Ortega, who had begun to work in the apparel trade as an errand boy half a century earlier, Spain’s richest man. However, it also implied a significant growth challenge. Based on one set of calculations, for example, 76% of the equity value implicit in Inditex’s stock price was based on expectations of future growth—higher than an estimated 69% for Wal-Mart or, for that matter, other high-performing retailers.1 The next section of this case briefly describes the structure of the global apparel chain, from producers to final customers. The section that follows profiles three of Inditex’s...

Words: 15226 - Pages: 61

Premium Essay

Zara

...9-703-497 REV: DECEMBER 21, 2006 PANKAJ GHEMAWAT JOSÉ LUIS NUENO ZARA: Fast Fashion Fashion is the imitation of a given example and satisfies the demand for social adaptation. . . . The more an article becomes subject to rapid changes of fashion, the greater the demand for cheap products of its kind. — Georg Simmel, “Fashion” (1904) Inditex (Industria de Diseño Textil) of Spain, the owner of Zara and five other apparel retailing chains, continued a trajectory of rapid, profitable growth by posting net income of € 340 million on € revenues of € 3,250 million in its fiscal year 2001 (ending January 31, 2002). Inditex had had a heavily € oversubscribed Initial Public Offering in May 2001. Over the next 12 months, its stock price increased by nearly 50%—despite bearish stock market conditions—to push its market valuation to € 13.4 € billion. The high stock price made Inditex’s founder, Amancio Ortega, who had begun to work in the apparel trade as an errand boy half a century earlier, Spain’s richest man. However, it also implied a significant growth challenge. Based on one set of calculations, for example, 76% of the equity value implicit in Inditex’s stock price was based on expectations of future growth—higher than an estimated 69% for Wal-Mart or, for that matter, other high-performing retailers.1 The next section of this case briefly describes the structure of the global apparel chain, from producers to final customers. The section that follows profiles three of Inditex’s...

Words: 15226 - Pages: 61