The owner of Zara did not rule out the return to Russia “if the situation changes”

The head of the Spanish Inditex did not rule out a return to the Russian market "if the situation in the country changes", but stressed thatthat this may not happen soonOscar Garcia MaceirasOscar Garcia MaceirasOscar Garcia MaceirasOscar Garcia MaceirasOscar Garcia Maceiras

The Spanish group Inditex, which owns the brands Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius and Oysho, does not rule out returning to Russia if the situation in the country changes. This was stated in an interview with the Financial Times by the company's CEO Oscar Garcia Maceiras.

“We would decide to resume our activities in Russia if the situation changed. And, of course, I don't think it will happen in the short term," he said.

According to Maceiras, if Inditex returned to the Russian market, the company would cooperate with those stores that the Daher Group is now transferring. “In these circumstances, Inditex will operate our own formats with Daher as the franchisee,” the CEO explained.

Inditex 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 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.

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