By Mauro Orru
Industria de Diseno Textil SA, the owner of Zara known as Inditex, is set to launch a buyback program of up to 85 million euros ($100.8 million).
The Spanish fashion group said Tuesday that the program would start on Wednesday and end on Oct. 14.
"The purpose of the program is to allow the company to fulfil its share award obligations regarding members of management, including executive directors and other employees of the Inditex group, stemming from the 2019-2023 long-term incentive plan," the company said.
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(END) Dow Jones Newswires
July 13, 2021 12:38 ET (16:38 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.