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Zara owner Inditex closes Russian stores and online platform

Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales

Zara owner Inditex closes Russian stores and online platform
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Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday

The Zara owner is following some of the biggest western brands which have suspended operations in Russia, including its main rival H&M, following the invasion of Ukraine and the imposition of economic sanctions.

Russia accounts for around 8.5% of the group's global EBIT (earnings before interest and tax) and all the Inditex stores operate on a rental basis, Inditex said. "The investment is not relevant from a financial point of view"

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