On March 30, the Russian Government Commission approved the sale of 100% of the shares of New Fashion JSC (formerly Zara CIS) by the Spanish clothing retailer Inditex Group. The buyer is Fashion And More Management of the UAE Free Zone. The new owner will restart Zara stores with new brands in April-May, RBC has learned.
- In 2022, after the start of the Russian special operation in Ukraine, Inditex closed more than 500 stores in Russia and also stopped online sales. Subsequently, the group sold its assets to the Daher Group. The latter decided to sell things of the brands of the Spanish company under other names.
- The Daher Group hopes to produce part of the collection in Russian facilities, which were previously also used by the brands of the Spanish holding company.
Author:
karina pardaeva
Source: RB
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