What's more amazing is that because Inditex and H&M aren't US listed companies and Forever 21 is private, most US investors haven't had a chance to participate in the trend. Because of this there's been less focus on the behemoths that these companies have become here in the states. Inditex has a larger market cap than Target, Macy's, Nordstrom and Gap combined. Below are some comps to show how it gets there. Needless to say the multiple is rather generous.