Zara Stores to Close in Venezuela as Inditex Brands Exit

Former Zara, Bershka stores have already changed logos
Stores navigated years of currency and price controls

Shoppers walk past the Zara location at the Sambil Shopping Center in Caracas, Venezuela, on May 22.Photographer: Manaure Quintero/Bloomberg

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By Nicolle Yapur and Rodrigo Orihuela

May 22, 2021 at 5:03 PM UTC

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The franchise operator of Zara and two other popular apparel chains will close all of its stores in Venezuela in the next few weeks.

Zara, along with Pull&Bear and Bershka, are owned by Spain’s Inditex SA and have been operating as franchises in Venezuela since 2007. The franchise is managed by Panamanian-based company Phoenix World Trade, run by Camilo Ibrahim.