July 13, 2024
Apparel, Fashion, Retail

Fast Fashion Brand Zara Denies Withdrawing From Chinese Market

Fast fashion brand Zara has dispelled rumours emanating from the Chinese media that it is withdrawing from the Chinese market.

Media reports had recently informed that Zara has closed nine stores in just two months which lead to speculation that the Spanish brand is gradually exiting from China.

While speaking to Daily Economic News, a Zara spokesperson said that the rumour that Zara is withdrawing from China is false.

The spokesperson also added the brand has shutdown only three stores in various cities of China and the rumour that nine stores have been closed are inaccurate and it operates 87 stores across China.

According to an Inditex report, which is the parent of Zara, it operated 183 Zara stores in mainland China in 2018, which has now reduced to 87 stores

Although Inditex has several fashion brands, revenues from Zara account for 70 percent of Inditex’s revenues.

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