Zara owner confirms negotiations on business in Russia
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The Spanish fashion group Inditex (brands Zara, Massimo Dutti, Pull & Bear, Oysho, Bershka, Stradivarius), which left Russia in March, announced that it was negotiating business in Russia in search of alternatives. Earlier, Kommersant wrote about the possible transfer of local assets by Inditex to partners from a “friendly” country.
“Since the suspension of its commercial activities in the Russian Federation in March 2022, Inditex has been monitoring the market situation, prioritizing keeping its employees as busy as possible. With this in mind, Inditex is analyzing various options and conducting preliminary negotiations with interested parties regarding possible alternatives,” the company said (quoted from TASS).
Details were not given to Inditex. According to Kommersant’s source, the company may transfer business to a partner from Southeast Asia or the Persian Gulf. However, Massimo Dutti, Oysho and Zara Home are likely to completely leave the Russian market. Other brands will operate under new names.
More details – in the material “Kommersant” “Zara will change registration”.
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