Zara finds way to stay in Russia ...News

The Spanish owner will sell the business to a Lebanese firm Spanish clothing conglomerate Inditex, which owns clothing brands such as Zara, Massimo Dutti, Pull & Bear, Oysho, Bershka, and Stradivarius, has reached a preliminary agreement to sell its Russian business. “Inditex has reached an initial agreement for the sale of its business in the Russian Federation to Daher group… The terms of the transaction, subject to government approval, will enable the preservation of a substantial number of jobs generated by Inditex Group in Russia, as it includes the transfer of most of the lease contracts related to stores,”

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