MOSCOW TIME: 23.04.2024 13:30:45
Inditex, a Spanish corporation owning the prominent brand Zara, is going to launch production in Russia.
Zara to tailor in Russian way
Inditex, a Spanish corporation owning the prominent brand Zara, is going to launch production in Russia. According to Russian Deputy Minister of Industry and Trade Viktor Evtukhov, two contracts have been executed – one to deal with the manufacturing of Zara Home items and the second to produce Zara clothes. TDL Textile (Russia) has already manufactured fabric products for Zara Home previously (homeware).
In 2017, the Spanish company wants to sell about 1 million items to be made in Russia. Inditex is the world's largest seller of clothes by revenues. Its net profits for the financial year that ended January 31, 2017 were up 10%, reaching EUR 3.16 bln. Inditex's turnover has grown by 12%, to EUR 23.31 bln.
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