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Zara Owner Ready to Return to Russia If Situation Improves

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Moscow, March 15 – The Spanish Inditex Group, one of the world’s largest retailers of clothing and footwear (brands Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho), said that it was ready to return to Russia if the situation in the country changed.
Inditex had 500 stores in Russia, employing more than 9 thousand people, in March 2022 the company’s management decided to temporarily suspend operations in the Russian Federation, considering it impossible to “ensure continuity of operations.” And in October 2022, Inditex agreed to sell its Russian division to Lebanon-based franchisee Daher group.
Zara clothing store - 1920, 06/11/2022

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“If we make the decision to resume our activities in Russia because the situation has changed – and of course I don’t think this will happen in the short term – we can resume our activities exactly with the stores that we transfer to the Daher Group, ”- the Financial Times quoted the words of the CEO of the company Oscar García Maceras (Oscar Garcia Maceras).
In addition, the CEO of the company specified that in the event of a return to Russia, Inditex will carry out its activities in its own format with Daher as the franchisee. The Financial Times, referring to Maceras, added that the company plans to expand its business in the United States and that most of the 1.6 billion euros of capital expenditures planned for this year will go to opening or expanding stores around the world.
Inditex Corporation was founded in 1985. It owns such brands as Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterque. The company’s founder, Amancio Ortega, remains the majority shareholder.
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