Spanish brands such as Zara, Mango, Pull&Bear, and Tous temporarily close their stores in Israel

October 12, 2023

Category: General

Country: Egypt

By EFE
Transaletd by Roberta Herrera
11th October, 2023.
Reading time: 2 minutes

Numerous stores of Spanish brands in Israel, including Zara, Mango, Pull&Bear, and Tous, have temporarily closed their doors following an unprecedented attack on the country on Saturday by the Islamist group Hamas, to which Israel responded with airstrikes on Gaza.

As a result, the 84 franchised stores that the Inditex group operates in Israel have chosen to remain closed, awaiting developments in the country.

"Our stores will remain closed temporarily, and the return deadlines will be extended by 30 days from their reopening," reads the message on the local websites of the different brands.

Inditex operates outlets for all its Spanish brand subsidiaries, excluding Oysho, all of which are franchised. These establishments are primarily Zara (26) and Pull&Bear (25), but also include Bershka (15), Stradivarius (14), Massimo Dutti (2), and Zara Home (2).

Likewise, the fashion retailer Mango has decided to close nearly all its stores in Israel, totaling around 50, also managed by a franchise partner, who, for the time being, is keeping four open pending further developments.

The 12 stores owned by the jewelry brand Tous in Israel, also under a franchise agreement, are currently closed.

Alongside these and other retail chains, several other Spanish companies with businesses in Israel could be affected by the unprecedented escalation of tension in this region of the Middle East, depending on how events unfold.

When consulted on the matter, sources from the company Comsa assured EFE that the firm is part of a Spanish-Israeli consortium that, at the end of September, finalized an agreement for the construction and operation of a new tramline in Jerusalem.

However, these sources clarified that, for now, the war has had no impact on them, as construction has not even started, and they do not have staff deployed in the country.

Meanwhile, sources from the company Indra explained to EFE that they generate only 0.1% of their revenue in Israel, approximately three million euros, so their exposure to events in the region is limited.

Courtesy: https://in.fashionnetwork.com