Zara Owner Inditex Closes Russian Stores and Online Platform

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.

The Zara owner is following some of the biggest western brands which have suspended operations in Russia, including its main rival H&M, following the invasion of Ukraine and the imposition of economic sanctions.

“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 world’s biggest fashion company said.

Russia accounts for around 8.5 percent of the group’s global EBIT (earnings before interest and tax) and all the Inditex stores operate on a rental basis, Inditex said. “The investment is not relevant from a financial point of view.”

Inditex said it would give its workforce of more than 9,000 people a special support plan, without giving any details. The group had

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Online Games And Puzzles

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Netflix eyes foray into video games – NBC News

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What Assist Do You Want For Your Style Shopping? A Typology Of Curated Trend Buyers Based Mostly On Purchasing Motivations

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H&M’s online second-hand shop Sellpy launches in 20 more countries

The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar

Swedish online second-hand shop Sellpy, which is majority-owned by fashion giant H&M (HMb.ST), said on Monday it was opening in 20 more European countries, in a bet demand for sustainable fashion will keep growing.

The start-up handles the entire sales process from picking up the goods from sellers’ homes, to photographing, selling and shipping. The expansion will take its number of markets to 24 after it first launched in 2014 in Sweden.

Sellpy said in a statement second-hand was one of the fastest growing market segments within the fashion industry.

“Every garment bought pre-owned saves resources for our planet. Demand in our new markets is growing rapidly”, Head of Expansion Gustav Wessman said.

As consumers become increasingly conscious about the origins and sustainability of their clothes, the fashion industry is

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