Zara, the fast-fashion flagship retail brand of Spain's Inditex, opens its first transactional online store next week, but the brand has already become an online phenomenon. Sanford C. Bernstein, a research firm, estimated that Zara could in three years earn up to €2 billion annually from online sales. Gap, Zara's closest rival, posted $1.12 billion in online and catalog sales in 2009.

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