Report: Inditex mulls selling Russian business to Lebanese firm

MADRID, Oct 20 (PRIME) -- Spanish clothes producer Inditex is in talks to sell its stores in Russia to Lebanese group Azadea, Cronica Global newspaper reported on Thursday.

Azadea has already begun assembling a team in Dubai, which will be fully dedicated to the project, the newspaper reported.

In Russia, Inditex was represented by Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterque stores.

According to Spanish newspaper Modaes, before the conflict in Ukraine, Russia was the largest international market for Inditex, which generated 6% of Inditex's total turnover.

According to Cronica Global, Azadea already has Inditex franchises in Algeria, Bahrain, Oman and Qatar.

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