Inditex management has announced its desire to bring Zara stores back to Russia as a franchise
Spanish clothing, footwear and accessories retailer Inditex, brand owner Zara, pull and bear, Massimo Dutti, BershkaStradivarius and Oyshodeclared his desire to return to Russia when the situation in the country changes. This publication reports FinancialTimes.
“If the situation changes, we could resume our activities with exactly the stores that we sell to the Daher group. Of course, I don’t think that will happen in the short term,” the company’s chief and CEO said. Oscar Garcia Maceiras.
At the same time, he noted that in the event of a return to Russia, Inditex would work with the Lebanese company Daher Group, which he sold part of the business in the country, as a franchisee.
Also in January reported the timing of the opening of Zara stores in Russia under the new name Maag.
Inditex suspended all online stores and platforms in Russia on March 5 last year. Before that, 502 stores of the group operated in the country. The Russian market share reached around 8.5% of Inditex’s overall profit.