Ministry of Industry and Trade: the company replacing Inditex will open more than 200 stores in Russia in May

More than 200 stores of Inditex, which left Russia (owns the brands Zara, Bershka, Pull&Bear, Oysho, Stradivarius) will open in May under the names Maag, Dub, Ecru, Vilet. This was announced by Deputy Head of the Ministry of Industry and Trade Viktor Evtukhov. Who became the new owner of the network, he did not specify.

“All stores are ready to open, there are now more than 200 of them … Inditex had about one and a half times more stores, but the new owners say that if sales satisfy them, they will naturally expand their network” , – said the Deputy Minister on the air of “Russia 24” (quote from TASS).

He specified that one of the key terms of the deal was the preservation of jobs. Now the group of companies employs 4.2 thousand employees. “Representatives of the new owner confirmed that they are maintaining the number of employees and are now starting to recruit new specialists and will probably increase their staff,” Mr. Yevtukhov said.

The Spanish Inditex suspended work in Russia in March 2022, and a year later decided permanently close 269 out of 514 stores in Russia. In the fall of 2022, the company reached an agreement to sell most of its business to the Lebanese holding company Daher Group, but to complete the transaction, it was necessary to obtain the consent of a subcommittee of the government commission on foreign investment control. Viktor Evtukhov informedthat the government commission gave its approval, but who exactly is still unknown.

According to him, Inditex’s Russian business, including Zara stores, will be bought by Fashion And More Management DMCC. Her office is located “in one of the friendly countries.” According to RBC, a company with the same name is registered in the free zone of the United Arab Emirates.

Laura Keffer