MADRID - Spanish fashion giant Inditex, which owns brands including Zara, has agreed a deal to sell its stores in Russia - although it has not completely closed the door on the country.
Inditex, which halted sales in Russia back in March after the invasion of Ukraine, is selling its 500-plus Russian stores to the United Arab Emirates-based Daher Group.
However, it has retained an option to collaborate with Daher on a franchise agreement "if in future Inditex considers that new circumstances allow the return of the group’s brands to this market".
