Here's the genius of Zara's business.

So number one, the percentage of revenue for ad spend, what do you think it is?

For Zara?

Uh-huh.

1%?

Exactly.

1% right.

1%.

Now, they also buy, they don't, they don't buy real estate.

They look to rent prime real estate because they can't buy everything.

Like if there's a big shopping mall popping up, their real estate that's their marketing channel right because if you're in a big mall for

example at like century city or whatever big malls out there if you're in prime real estate people are

going to talk about you to see you all the time and they're like they're going to know it's our right

the other thing is it's customer driven products so instead of most stores that you go to, maybe you have to wait a long time,

maybe one quarter for the next drop, they're always talking to customers and they're changing

things by the week.

So you have to buy it like that week, right?

So there's built-in scarcity there, which is smart because scarcity works in marketing.

The other thing that I really like, which we kind of talked about earlier, is that the founder

Ortega, so here's what happened when he was a kid. His mom was holding his hand, they're going to a grocery store,

and basically he couldn't see the counter, right? But over the counter, he could overhear the person

saying, hey, Miss, Miss Ortega, Miss Ortega, I can't loan you any money anymore. So she's

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