THE Spanish fashion giant Inditex has announced that it is closing its 502 stores in Russia in protest at Putin’s invasion of Ukraine.
The Galician based retail company which owns Zara, Massimo Dutti, Bershka and Stradivarius among others said it would suspend operations in all its Russian stores as well as online.
“In the current circumstances, we cannot guarantee the continuation of our business operation in Russia,” Inditex said in a statement.
The Russian market represents Inditex’s second largest after Spain. It employs 9,000 staff within Russia and contributes around 10 per cent of the global operating profit for the company owned by Amancio Ortega.
The company said it was working on a plan ‘to support its workforce as a priority’.
It follows the earlier decision by Mango to suspend trading in its Russian stories as well as global brands H&M.