Madrid: Spanish clothing giant Inditex, which owns Zara, announced Saturday it was temporarily closing hundreds of shops in Russia as well as the group´s online shopping store.
Inditex is one of many multinationals that have suspended business in Russia following its February 24 invasion of Ukraine.
The company is "temporarily suspending its activity in 502 shops," it said in a statement.
"Given the current circumstances, Inditex cannot guarantee the continuity of operations and business conditions in the Russian Federation," it added.
Inditex said Russia made up around 8.5 percent of its earnings.
"Inditex´s priority remains its staff of more than 9,000 for whom (the group) will now develop a special support plan," it added.
Among the 502 stores, 86 are Zara shops, the statement said.
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