The owner of Zara has announced that he is ready to return to Russia if the situation changes

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The owner of Zara has announced that he is ready to return to Russia if the situation changes

The owner of Zara has announced that he is ready to return to Russia if the situation changes – RIA Novosti, 03/15/2023

The owner of Zara has announced that he is ready to return to Russia if the situation changes

The Spanish group Inditex, one of the world’s largest distributors of clothing and footwear (Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho brands), told RIA Novosti on 03/15/2023

2023-03-15T20:23

2023-03-15T20:23

2023-03-15T20:23

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MOSCOW, March 15 – RIA Novosti. The Spanish group Inditex, one of the world’s largest retailers of clothing and footwear (Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho brands), said it was ready to return to Russia if the situation in the country would change. Inditex had 500 stores in Russia, employing more than 9,000 people, in March 2022 the company’s management decided to temporarily suspend operations in the Russian Federation, believing that it was impossible “to ensure the continuity of operations “. And in October 2022, Inditex agreed to sell its Russian division to its franchisee in Lebanon, the Daher Group. “If we took the decision to resume our activities in Russia because the situation has changed – and of course I don’t think that will happen in the short term – we could resume our activities with exactly the stores that we transfer to the Daher group, ” – quotes the Financial Times newspaper the words of the CEO of the company, Oscar Garcia Maceiras (Oscar Garcia Maceiras). In addition, the CEO of the company clarified that in case of return to Russia, Inditex will carry out its activities in its own formats with Daher as a franchisee. The Financial Times, referring to Maceiras, added that the company plans to expand its operations in the United States and that the bulk of the 1.6 billion euros in capital expenditure planned for this year will go to the opening. or expanding stores around the world. Inditex Corporation was founded in 1985. Owns brands such as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home, Uterque. The company’s founder, Amancio Ortega, remains the majority shareholder.

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The owner of Zara has announced that he is ready to return to Russia if the situation changes