Zara Stores Return to Venezuela After Hyperinflation Is Tamed
- Fashion retailer exited in 2021 after economic slump
- Venezuela’s economy is forecast to outpace neighbors this year
A Zara store at the Sambil Shopping Center in Caracas, Venezuela, in 2021.
Photographer: Manaure Quintero/BloombergThis article is for subscribers only.
Fashion retailer Zara is reopening in Venezuela as consumer spending recovers after the country tamed hyperinflation.
Local franchise operator Grupo Futura will have its first outlet up and running in an upscale Caracas mall before July, according to Zara’s parent company Industria de Diseno Textil SA., or Inditex. The company shut its operations in the country in 2021 after hyperinflation and a seven-year economic slump gutted retail demand.