Inditex, parent to Zara, says the group wants to return to the Russian market

Oscar Garcia Maceiras, the Chief Executive Officer of Inditex, a Spanish chain of clothing store, said that the company would like to return to the Russian market, Investing.com reports.

The company continues monitoring the situation in Ukraine. Inditex intends to resume cooperation with Russia as soon as conditions for cooperation become favorable, he added.

Inditex is a parent company to such brands such as Zara, Bershka, Stradivarius and Pull&Bear. Inditex closed over 500 of its stores in Russia and Ukraine after Russia launched the military operation in the country.

Putin: A holy place is never empty

Meanwhile, Russian President Vladimir Putin, when asked about the decision of such brands as Zara, H&M and Uniqlo to leave the Russian market, recalled the Russian proverb that literally sounds as "a holy place is never empty" (if there is a gap, something will fill it).

According to Putin, it is Russian brands and designers who can take their place.

"If someone leaves the Russian market, then the holy place is never empty. I would like domestic manufacturers to take it,” Putin said.