Madrid, Mar 5 (EFE).- Spanish retail giant Inditex, which owns fashion brands such as Zara, Bershka and Pull&Bear, announced Saturday it was “temporarily suspending” its operations in Russia, where it has over 500 stores.
The company said both physical stores and online channels would be suspended in response to the Russian invasion of Ukraine.
Inditex has a total of 527 outlets across Russia and employs over 9,000 people for which the company said it would activate a “special support plan”.
The Russian market constitutes 8.5% of the group’s Earnings before interest and taxes (EBIT), Inditex said in a statement.
Inditex is the latest to suspend its activity in Russia after brands such as Nike, Adidas, Mango and Burberry also announced temporary closures in Russia.
Swedish furniture giant Ikea also said it would pause its business operations with Russia.
Other companies such as Starbucks, Coca-Cola and McDonalds remain open in Russia.
Inditex has closed its stores in Ukraine for security reasons. EFE