Spanish Inditex plans to sell Russian business to a partner from a "friendly" country
19.10.2022 5504

Spanish Inditex plans to sell Russian business to a partner from a "friendly" country

Owning brands Zara, Massimo Mulberry, Bershka, Pull & Bear, Oysho, Stradivarius Group Inditex plans to transfer its Russian structure to a third company from a country that Russia perceives as friendly. It could be a country from Southeast Asia, the Persian Gulf or the United Arab Emirates, Kommersant writes.

The fact that Inditex is going to change the corporate structure of the Russian subsidiary - Zara CIS JSC, Kommersant learned from the ruling of the Arbitration Court of the Samara Region dated September 30. It considers the claim of the owner of the shopping center "Cosmoport" in Samara to "Zara CIS". It follows from the materials of the court that Inditex plans to transfer the Russian structure to a third company registered in a jurisdiction that the Russian authorities do not consider “unfriendly”. The Inditex global office left this information without comment.

It is noted that Inditex has already begun the process of restructuring its retail network, closing unprofitable stores. However, most landlords do not plan to break off relations with the retailer.

Owning the brands Zara, Massimo Dutti, Bershka, Pull & Bear, Oysho, Stradivarius, the Inditex group plans to transfer its Russian structure to a third company from a country that Russia ...
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