Zara Agrees on Production Deal With Russian Factory
Spanish clothing brand Zara has reportedly agreed on a deal to produce hats and scarves in a Russian textile factory after a year of negotiations. A currency devaluation (девальвация) and sharp economic downturn in 2014 led fashion chains OVS, River Island and Esprit to leave Russia, while Zara rolled back expansion (расширение) plans. Last year,…