Zara owner to close up to 1,200 fashion stores around the world
Inditex seeks to boost online retailing as coronavirus causes 44% sales slump
The owner of Zara will close as many as 1,200 stores around the world as the clothing retailer tries to boost online sales during the chaos wrought by the Covid-19 pandemic.
Inditex said it would “absorb” between 1,000 and 1,200 mainly smaller stores, with losses concentrated among older shops from brands other than Zara. The Spanish company’s other brands include Bershka, Pull & Bear and Massimo Dutti.