The Lebanese clothing brand MAAG, which replaced Zara after it ceased operations in Russia, has been labeled the disappointment of the year, RIA Novosti reported on Tuesday, citing the Union of Shopping Centers (STC).
Dubai-based Fashion And More Management DMCC, the owner of clothing stores MAAG, Dub, Vilet and Ecru, opened stores in Russia in the former locations of Zara, Pull & Bear, Stradivarius, and Bershka in May.
“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,” said STC vice president Pavel Lyulin, citing a survey conducted among landlords of the outlets.
He added that MAAG stores had shown the worst sales results since opening, and blamed insufficient product range, ascetic design, and weak advertising campaigns for the poor performance.
New brands from Türkiye, China, India, and other ‘friendly’ nations have boosted their presence in Russia after many Western firms quit the country’s market under pressure from Ukraine-related sanctions.
The Spanish clothing conglomerate Inditex closed its stores – including Zara, Bershka, and Massimo Dutti – last year, before deciding to leave the Russian market altogether. The conglomerate later sold some of its 500-plus Russian stores to a UAE-based buyer.
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