Zara owner Inditex suspends operations in Russia over Ukraine invasion

The Russia-Ukraine war entered its tenth day on Saturday, March 5. Amid this, major brands, fashion outlets and production houses have boycotted operations in Russia to condemn the military offensive by Russian President Vladimir Putin. The latest to join the group was Inditex, which owns brands like Zara, Bershka, Pull & Bear and Oysho. The Spanish fashion retailer has halted its trading with Russia and has decided to close its store in the country.

In a statement released on Saturday, March 5, Zara's parent company said, "In the current circumstances Inditex cannot guarantee the continuity of the operations and commercial conditions in the Russian Federation and temporarily suspends its activity."

Inditex owns around 502 shops in Russia. Additionally, the online sales of the brand will also be ceased in the country. The announcement made by the clothing company reveals that Russia accounts for about 8.5% of its global EBIT.

This announcement comes just days after Swedish fashion group H&M confirmed that they have temporarily paused sales all across Russia. The world's second-biggest fashion retailer said it was deeply concerned about the tragic developments in Ukraine and "stand with all the people who are suffering".

The company, which is one of Inditex's greatest competitors, said, "H&M Group has decided to temporarily pause all sales in Russia." The statement added that H&M and its stores in Ukraine had already been temporarily closed due to the safety of customers and colleagues. "The situation is continuously being monitored and evaluated," it added.

Russia-Ukraine War

In the latest update of the Russia-Ukraine war, a partial ceasefire has been declared to open humanitarian corridors for civilians in Mariupol and Volnovakha, Russian news outlet Sputnik reported. However, Ukraine has alleged that Russia isn't following the ceasefire and reports of the evacuation being stalled due to shelling have come to the fore. 

Russia has already captured Ukraine's port city, Kherson, which is home to an estimated 300,000 Ukrainians. Destructive visuals from Kyiv and other key cities that emerge daily have invited widescale global condemnation against Russia. 

(Image: Unsplash/AP)