New Zara owners to announce store opening dates next week

The Spanish Inditex sold the assets of Zara and its other brands in RUSSIA to the Lebanese Daher Group last fall. As specified in the Ministry of Industry and Trade,

The Lebanese Daher Group, which bought the assets of the Zara retail chain in Russia from the Spanish Inditex in autumn, will present the concept and timing of opening stores in the country next week. This was reported to RIA Novosti by Deputy Minister of Industry and Trade Viktor Evtukhov.

“The company will come next week and present a concept of how they will open: when, what stores, in what regions,” the deputy minister said in response to a question about the timing of the opening of new Zara stores.

Yevtukhov also stressed that the new owners still have to complete the acquisition of Zara's assets in Russia. “This will require the approval of the Government Commission. Only after that it will be possible to say that everything took place. And then — step by step [step by step (English)],” he added.

"Kommersant" found out the opening date of the stores of the new owner Zara Business

Inditex (owner of Zara and Zara Home, Massimo Dutti, Bershka, Pull & Bear, Stradivarius and Oysho) closed its stores in Russia after the start of a special operation in Ukraine. In the fall of 2022, the company announced the sale of the Russian business to the Lebanese company Daher Group. Inditex then said that the terms of the deal provide for the transfer to counterparties of "most of the leases associated with stores" in Russia.

Later, FORBES, citing sources, wrote that Zara, Pull & Bear, Bershka and Stradivarius stores could open in Russia in the spring of 2023, all of them will work under new names. Other brands - Massimo Dutti, Oysho and Zara Home - will completely leave the Russian market.

Sources of Izvestia and Mash reported that Zara products will be sold in Russia under the New Fashion brand, at first it is planned to open only four stores - in the Moscow shopping centers Mega Teply Stan, Metropolis, European and Aviapark. Kommersant wrote that the first store will open in Aviapark under the sign of Maag in the spring of 2023.

Read pioneerprodukt.by Banks of which countries are still working with clients from Russia How to get rid of useless meetings once and for all in 90 minutes Housing prices are falling all over the world. What this means for the economy Consumption is growing in CHINA.