Inditex has decided to suspend its activities in the 502 stores it has in Russiaof which 86 are Zaraas well as in the online channel. The company thus joins the decision made by other companies in recent days, including its competitor Mango, which have chosen either to suspend activity in that country or to break commercial ties.
Through a statement, the company assures that “in the current circumstances cannot guarantee the continuity of operations and commercial conditions in the Russian Federation and temporarily suspends its activity in the 502 stores (of which 86 are Zara) and in the country’s online channel.
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The company chaired by Pablo Isla states that Russia constitutes around 8.5% of the group’s global operating income. All stores operate on a rental basis, so “the investment is not relevant from a financial point of view,” highlights the note sent to the National Securities Market Commission (CNMV).
The firm assures that it continues to have “its workforce of more than 9,000 people as a priority, with whom it will develop a special support plan from now on”.