The first openings of former Zara stores in Moscow and the regions are expected in April
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The first updated Zara store under the new name will open in the Aviapark shopping center in Moscow, the stores will start working in the capital and regions in April. About this TASS informed director of CORE.XP market research department Vasily Grigoriev.
“Both in Moscow and in the regions, the first openings are expected in April this year. Based on public geographic information systems, the launching pad will be a store in the Aviapark shopping center, where a new name for the retail chain, Maag, is fixed,” Grigoriev told the agency.
At the end of October 2022, it became known that Inditex (Zara, Bershka, Pull & Bear, Massimo Dutti) had reached an agreement to sell its business in Russia to the Daher group. At the same time, Inditex said that if the group decides to return to the Russian market, then the Daher group has the possibility of potential cooperation through a franchise agreement. In November of the same year, Daher announced that they would work in Russia under their own brand.
Zara suspended the work of its stores in Russia on March 5, 2022 amid the start of a military operation in Ukraine, sanctions and problems with logistics. According to El Mundo, there were more than 500 Inditex stores in Russia, 86 of which were under the Zara brand. Russia accounted for about 8.5% of the group’s global EBITDA.
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