The buyer company is based in the UAE, which has shown itself to be friendly to Russia.
May 15, 2023 at 05:10 AM
2 minute read
Correspondent, Spain & Portugal
Pinsent Masons Madrid advised Inditex, the Spanish multinational fashion company, on the sale of its business in the Russian Federation to Middle Eastern business Daher Group.
In response to Russia’s invasion of Ukraine, the Spanish company—which owns popular brands like Zara, Pull & Bear, Massimo Dutti, Bershka, Stradivarius, Oysho and Zara Home—suspended its business in Russia in March of 2022. It operated around 502 stores in the Federation, 86 of which were Zara, and an online store.
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