Inditex’s assets will reportedly pass to a UAE firm Spanish clothing conglomerate Inditex has secured approval from the Russian government to sell its business in Russia, RBK news outlet reported on Wednesday citing Deputy Minister of Industry and Trade Viktor Yevtukhov. Inditex is one of the world's largest clothing retailers, which owns brands such as Zara, Massimo Dutti, Pull & Bear, Oysho, Bershka, and Stradivarius. According to the deputy minister, the permission for the sale was granted on March 30. The deal will see all of Inditex retail sites in Russia pass to a new owner, Fashion and More Management DMCC,
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