Deals
Zara Owner Inditex to Sell Russian Business to Daher Group
A changing booth at a Zara fashion store.
Photographer: Angel NavarreteThis article is for subscribers only.
Inditex SA, the world’s biggest textile retailer, agreed to sell its business in Russia to Daher group, marking its withdrawal from the country.
The agreement will preserve a “substantial number of jobs” in Russia and Daher will also pick up most of Inditex’s store rental contracts, Arteixo, Spain-based Inditex said in a filing Tuesday.