The Lebanese MAAG emblem has reportedly revealed beggarly gross sales since opening
The Lebanese clothes emblem MAAG, which changed Zara nearest it ceased operations in Russia, has been classified the disgruntlement of the day, RIA Novosti reported on Tuesday, bringing up the Union of Buying groceries Facilities (STC).
Dubai-based Style And Extra Control DMCC, the landlord of clothes shops MAAG, Dub, Vilet and Ecru, opened shops in Russia within the former places of Zara, Remove & Endure, Stradivarius, and Bershka in Might.
“The biggest disappointment for landlords was the opening of the new Zara and other Inditex brands after the sale of the chain to Arab owners and its rebranding,” mentioned STC vp Pavel Lyulin, bringing up a survey performed amongst landlords of the retailers.
He added that MAAG shops had proven the worst gross sales effects since opening, and blamed inadequate product area, ascetic design, and susceptible promoting campaigns for the beggarly efficiency.
READ MORE: Zara replacement struggling in Russia – media
Unutilized manufacturers from Türkiye, China, Republic of India, and alternative ‘friendly’ countries have boosted their presence in Russia nearest many Western corporations leave the rustic’s marketplace below force from Ukraine-related sanctions.
The Spanish clothes conglomerate Inditex closed its shops – together with Zara, Bershka, and Massimo Dutti – extreme day, sooner than deciding to let go the Russian marketplace altogether. The conglomerate upcoming bought a few of its 500-plus Russian shops to a UAE-based purchaser.
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