Russian retail chief plays down hopes of Zara return

The registration of Zara’s trademark in Russia is not sufficient evidence that the fashion retailer is preparing to return to the Russian market, Stanislav Bogdanov, chairman of the Association of Companies of Omnichannel Retail Trade (ACORT), told TASS on the sidelines of the Eastern Economic Forum.

“Trademark registration is standard intellectual property protection practice used by international companies regardless of their presence in a particular market. Therefore, it is premature to talk about Zara’s possible return based on this fact,” Bogdanov said.

He said Russia’s fashion market had changed significantly, with domestic brands strengthening their positions and retailers adapting their product ranges to changing consumer demand.

The development of the Maag, Ecru, Vilet and Dub chains, which launched in 2023, was evidence of those changes, Bogdanov said.

“The market is developing, and the trajectory of this development will depend on the strategies of all participants,” he said.

In April, it was reported that New Fashion, the company operating Maag, Dub, Ecru and Vilet clothing stores, had posted a profit from its Russian operations for the first time since 2022.

The company recorded a net profit of 1.7 billion rubles, or about $19.6 million, in 2025, according to a document. That compared with a loss of 664.5 million rubles, or about $7.7 million, in 2024, and a loss of 5.3 billion rubles, or about $61.2 million, in 2023.

The dollar conversions use the official Bank of Russia exchange rate of 86.5857 rubles per dollar set for September 5, 2026.

By Tamilla Hasanova