Inditex suspended Russian operations on March 5, and the deal with Daher would mean the company would exit the country completely. However, the company hinted that its brands might still return to Russia via a “potential collaboration through a franchise agreement” with Daher.
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Tally of major brands which quit Russia revealedREAD MORE: Tally of major brands which quit Russia revealed
Earlier, Forbes reported, citing company sources, that four Inditex brands, Zara, Pull&Bear, Bershka, and Stradivarius, would return to Russia next spring under new names.
Inditex closed its stores in Russia shortly after the start of Russia’s military operation in Ukraine. Prior to that, more than 500 stores of different brands of the Spanish holding were operating in the country, bringing it about 8.5% of global profits. Inditex’s losses in the event of a complete withdrawal from the Russian market were estimated at $300 million.
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