16:24 - 26.10.2022

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October 26, Fineko/abc.az. Clothing store chain Inditex, which owns brands Zara and Bershka, has reached an agreement to sell its business in Russia to Daher group, ABC.AZ reports with reference to company's press release distributed on Tuesday.

"The terms of this operation, subject to prior administrative authorization, will allow the retention of a significant part of the jobs occupied by Inditex Group in Russia, including the transfer of most of the premises that its stores have occupied so far," the press release says.

The company said in a statement that the deal will mean termination of Inditex's work in the Russian Federation after the suspension of its commercial activities on 5 March.

Inditex company's network has more than 7,000 stores in about 100 countries. Among the most famous Inditex brands are Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius and Oysho.