According to Spanish media, Rosalia Mera suffered a stroke while on holiday in Menorca and was flown back to Coruna in northern Spain where she died on Thursday evening.
Rosalia Mera left school at 11 and worked as a tailor before starting Inditex with her ex-husband Amancio Ortega.
She helped build the company into one of the world’s biggest retailers.
Inditex owns the Zara, Massimo Dutti and Bershka brands.
In a statement the company said: “The group wishes to send its sincere condolences to her loved ones and friends at this extremely difficult time, after the loss of a person who contributed so much to the origins and development of the company.”
Rosalia Mera and Amancio Ortega divorced in 1986 after 20 years of marriage.
According to Spanish newspaper El Pais, Rosalia Mera left the board of directors of Inditex in 2004 but still owned a near 7% stake in the company.
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