عربي English Türkçe اردو فارسى
Logo
Latest News
Fashion

Zara Owner Inditex Halts Trading in Russia

A man wearing a protective face mask, used as a preventive measure against the coronavirus disease (COVID-19), walks out of a Zara store in central Kyiv, Ukraine November 25, 2020. REUTERS/Valentyn Ogirenko
A man wearing a protective face mask, used as a preventive measure against the coronavirus disease (COVID-19), walks out of a Zara store in central Kyiv, Ukraine November 25, 2020. REUTERS/Valentyn Ogirenko
TT
TT

Zara Owner Inditex Halts Trading in Russia

A man wearing a protective face mask, used as a preventive measure against the coronavirus disease (COVID-19), walks out of a Zara store in central Kyiv, Ukraine November 25, 2020. REUTERS/Valentyn Ogirenko
A man wearing a protective face mask, used as a preventive measure against the coronavirus disease (COVID-19), walks out of a Zara store in central Kyiv, Ukraine November 25, 2020. REUTERS/Valentyn Ogirenko

Spanish fashion retailer Inditex has halted trading in Russia, closing its 502 shops and stopping online sales, the company said in a statement on Saturday to the Spanish regulator.

"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 Zara owner company said.

Russia accounts for around 8.5% of the group's global EBIT, Inditex added.

Most Viewed

 
 
Fashion

Fashion Commission Signs MoU with adidas to Empower Saudi Designers and Creators 

The Fashion Commission plays a key role in supporting the development of local talent and strengthening ties between global brands and the Saudi fashion sector. (SPA) 
The Fashion Commission plays a key role in supporting the development of local talent and strengthening ties between global brands and the Saudi fashion sector. (SPA) 
TT
TT

Fashion Commission Signs MoU with adidas to Empower Saudi Designers and Creators 

The Fashion Commission plays a key role in supporting the development of local talent and strengthening ties between global brands and the Saudi fashion sector. (SPA) 
The Fashion Commission plays a key role in supporting the development of local talent and strengthening ties between global brands and the Saudi fashion sector. (SPA) 

Saudi Arabia’s Fashion Commission signed a memorandum of understanding with adidas to support young Saudi designers and creators, under the "100 Saudi Brands" program, which forms the shared vision of this collaboration, reported the Saudi Press Agency on Thursday.

The MoU comes amid the sector's growth, with the commission's efforts to stimulate innovation, nurture talent, and foster growth in the local fashion industry.

The partnership is built on three pillars:

- Talent Development: Through training programs at adidas targeting talents within the "100 Saudi Brands" network.

- Research and Development: Collaboration between the two sides will launch a comprehensive research project aimed at understanding the evolving needs of Saudi consumers, with a focus on women's sportswear preferences. This will contribute to the "State of Fashion in the Kingdom 2024" report, guiding future adidas collections and contributing to the launch of a joint sportswear and lifestyle collection for 2025.

- Global Partnerships: Collaboration with a select group of Saudi designers. adidas, with the support of the Fashion Commission, will showcase its first official local collaboration during Riyadh Fashion Week 2024, where the Spring/Summer 2025 collection will be presented.

The Fashion Commission plays a key role in supporting the development of local talent and strengthening ties between global brands and the Saudi fashion sector.