Spanish fashion giant Inditex, owner of the brand Zara, announced the temporary closure of its 84 stores in Israel until further notice, amid the ongoing conflict between Israel and Hamas.
The company conveyed the news via its Israeli websites and confirmed the decision to AFP, stating, “Our stores will be temporarily closed, and return times for items will be extended by 20 days from their reopening.”
Inditex, which oversees seven brands, including the upscale Massimo Dutti and teen label Stradivarius, faced challenges due to the conflict in Ukraine, compelling the closure of its 514 shops in Russia, which was its second-largest market after Spain.
Additionally, the global surge in transportation and energy costs led to increased production expenses for the company.
In response, Inditex opted for price hikes, a move that set it apart from competitors like H&M. Despite these challenges, the company reported a record net profit in the first half of 2023, attributed to robust sales.
Spain’s other prominent fashion label, Mango, also suspended sales on its Israeli website on Tuesday, as reported by an AFP journalist.
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