Inditex already has found the solution that looked to leave of Russia. Such as we advanced the past week, the textile giant Spanish was looking for solutions to remedy his situation of inactivity in Russia, and one of these alternatives, was the sale of his business in the country that is currently immersed in a war conflict by invading Ukraine.
Óscar García Maceiras, neither wanted to confirm neither deny that between the plans of the group found the sale, but yesterday, did it official: Inditex traspasaba his activity to Daher, a holding of United Arab Emirates that is specialised in the sector of the retail and the distribution. However, Inditex doesn't rule out operating again in Russia, in duty-free, "if if the circumstances arose", since in the agreement with Daher, there is a clause that could contemplate the possibility of "a collaboration between the two". This Emirati group possesses one of the most important shopping centres of Dubai, the Dubai Mall and also dedicates, besides, with investments in the real-estate sector.
From Inditex, indicates that this acquisition by part of Daher "will preserve a substantial part" regarding the places of work, since in the operation "includes the transfer of the majority of the venues occupied up to now by his shops." The group gives work to almost 9.000 people in Russia, thus, is an appearance that from Inditex want to take into account and accumulates a total of 515 points of sale.
For now, the figure that has made the Inditex group and Daher official the agreement is still unknown, although, in accordance with what transmits 'La Vanguardia', estimates that it approach to the 216 million euros, that was the provision registered of Inditex in the first semester of this year and that "would serve to cover of substantial way the impact of the cessation of activity" in the country.
Of this way, Inditex adds already to the hundred of western companies that have suspended his activity in the Russian territory since Putin launched the offensive against Ukrainian floor. Mango or Tendam already did it at the beginning of March, and find an alike case to the of Inditex with Sephora, that has been absorbed again by 'Ille of Beauté'.