Inditex, the parent company of Spanish clothing brand Zara, announced on October 25 that it will sell all stores in Russia.
The company stated that it has reached a preliminary consensus to sell its business in Russia to the Daher Group. If Inditex believes that the environment allows the group brand to return to this market in the future, Inditex and Daher will The group may choose to cooperate through a distribution agreement.
Russia is one of Inditex’s largest markets after Spain, accounting for 10% of the company’s sales. However, Inditex decided to close 502 stores and stores in Russia in March. online shop.
