The Spanish Inditex, owner of the Zara brands, Massimo Dutti and Bershka, did not confute or refute the possibility of returning to the Russian market in a conversation with Tass.
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“We do not comment on this question. The last official message about the sale of our business at the DAHER of the Russian Federation <…> He was sent to the National Securities Commission of Spain on October 25, 2022, ”said the press service.
They added that since then no additional information on Russian businesses have been disseminated.
Context. On February 15, the vice president of the Union of Commerce Centers (STC) Pavel Lyulin informed Tass that the Inditex was negotiating Russia in private. Lyulin explained that foreign companies took a waiting position in this matter: to return, we need a “thaw” in the relations of Russia and the United States.
Shortly after, the STC said they sent the willingness to Inditex, Uniqlo and H&M leadership with the proposal to return to the Russian market. The organization said they were ready to promote a dialogue, solve logistics problems and “maintain reintegration without obstacles” of the foreign business. The H&M press service said the company “currently has no plans to resume work in Russia.”
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The head of the Direct Investment Fund of Russia, Kirill Dmitriev, who was part of the Russian delegation in negotiations with the United States in Riyadh on February 18, predicted the return of several US companies to Russia in the second quarter of 2025.
Author:
Bogdan Muzychenko
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
