Inditex has reached an agreement to purchase the Zara franchise operated by the Stockmann Group in Finland. With this acquisition Inditex will begin to directly manage the operations of the four stores in the Zara Finland chain.
The process is in line with Inditex’s standard management formula in the immense majority of countries where the company has a sales presence.
The franchise’s staff will also be incorporated into the Inditex Group with the acquisition of Zara Finland, with the same rights and conditions they have enjoyed to date.
Inditex has been operating in Finland since 2002, when it opened the Country’s first Zara store. The chain currently has four locations: two in Helsinki, another in Turku and the fourth in Vantaa.
Source:
http://www.fibre2fashion.com/news/apparel-news/newsdetails.aspx?news_id=120607
