Zara parent company closes all stores in Russia
Global fashion company Inditex, the parent company of Zara, announced on Saturday it was closing all shops in Russia amid the country’s ongoing invasion of Ukraine.
The decision means the closure of 502 shops in Russia and a halt to all online sales in the country, Inditex told Reuters in a statement.
“In the current circumstances Inditex cannot guarantee the continuity of the operations and commercial conditions in the Russian Federation and temporarily suspends its activity,” the company said in the statement.
The company has about 9,000 employees who will be impacted by the closures, but the company said it had a support plan for the workers, Reuters reported.
Inditex also previously temporarily closed about 79 stores in Ukraine.
The Spanish fashion retailer is following big name brands that are closing up shop in Russia or cutting ties with the country, including rival H&M, Reuters noted.
Also on Saturday, PayPal said it would shut down its services and Samsung announced it was suspending shipments, BBC reported.