Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market
Exited Exit Completed
Inditex
Inditex
Industria de Diseño Textil, S.A. is a Spanish multinational clothing company, the biggest fast fashion group in the world, operates over 7,200 stores in 93 markets worldwide. Owner of brands: Zara, Massimo Dutti, Bershka, Oysho, Pull & Bear, Stradivarius
Exit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market
Exited Exit CompletedTop 100 largest companies in Russia by revenue
Top 100Glob.Revenue, mln.USD
33064
Localized production of home textiles for the Zara Home chain. Zara-owner Inditex obtains approval to sell business in Russia.
The Company Statement
February 26, 2024
According to press reports, the company is temporarily closing its stores and suspending sales. 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. Bershka, a worldwide clothing retailer and product of Zara's parent brand, Inditex, is set to reopen its stores in Russia between April and May 2023 under the brand name Ecru. Other stores under the Inditex group, specifically Zara and Pull & Bear, are also set to reopen stores in the country. Rebranded by the new owners, the new brands will open under the names Maag and DUB. 23.10.2023: The legal entity LLC "Zara Home CIS" was liquidated but few more entities are still active. 20.02.2024: The legal entity LLC "Massimo Dutti" was liquidated. 26.02.2024: The legal entity Oisho CIS LLC was liquidated.
| February 20, 2024 | MASSIMO DUTTI LLC – Moscow – Liquidator Sokolova V. Yu. – TIN 7717555256 |
| October 23, 2023 | LLC "ZARA HOME CIS" - Moscow - Liquidator Sokolova V. Yu. - TIN 7717582404 |
| July 30, 2023 | ZARA, Massimo Dutti and Bershka may return to Ukraine in the fall, but there is a nuance |
| June 10, 2023 | Clothing brands Bershka, Zara and Pull&Bear are returning to Russia |
| May 11, 2023 | Pinsent Masons on the sale of Inditex business in Russia to the Daher Group |
| April 30, 2023 | How Russian fashion brands are replacing foreign ones |
| April 05, 2023 | Zara owner Inditex obtains approval to sell Russia business |
| April 05, 2023 | Ministry of Industry and Trade: the company replacing Inditex will open more than 200 stores in Russia in May |
| April 05, 2023 | Zara owner Inditex obtains approval to sell Russia business |
| March 12, 2023 | Zara, Bershka And Other Brands To Return To Russia Under New Names: Reports |
| March 10, 2023 | Under new names: Zara, Bershka and Pull&Bear stores will resume operations in Russia |
| December 26, 2022 | Zara Parent Sells Russian Real Estate; Van Crashes Into Chanel, Again |
| December 14, 2022 | Inditex third-quarter sales rise despite cost inflation, Russian operations charge |
| October 31, 2022 | Inditex agrees deal to sell Russian stores |
| August 14, 2022 | Zara Owner’s Profit Jumps as Price Increases Outpace Costs |
| May 22, 2022 | Inditex to resume operations in Russia ‘as soon as possible’ |
| April 05, 2022 | Zara owner Inditex ceases trading in Russia ‘temporarily’ |
| March 15, 2022 | Russia’s Wildberries selling Zara clothes online despite Inditex halting operations |
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