Inditex is studying the possibility of selling its business in Russia, after leaving the country last March when the war broke out in Ukraine.
The textile group that owns Zara, Massimo Dutti or Oysho has 502 stores and 9,000 employees in the country and this country is its second market after Spain.
According to the Russian media 'Kommersant' and the Europa Press agency, the company is studying the possibility of transferring its Russian assets to partners in a country in Southeast Asia or the Persian Gulf.
Sources consulted by this means explain that the transfer of the Russian business would take from six months to a year.
Zara would stay but with a different name and Massimo Dutti, Oysho and Zara Home will completely abandon the market.
Of the 502 establishments that Inditex has in the country, 86 are Zara.
The CEO of Inditex, Óscar García Maceiras, said this Tuesday during an event in Zaragoza that the company has continued to provide support to its teams in Russia and Ukraine since March.
"We continue to monitor the situation and evaluate different alternatives," he said.
It has also indicated that last June the company provisioned 216 million euros to cover the estimated expenses until the end of this year in both countries.
Inditex has increased its sales by 24% in other places, after closing the Russian market, company sources have indicated.
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Articles Raquel Villaecija