Recent events in Israel have prompted the temporary closure of several Israeli stores owned by well-known Spanish brands. These closures come in the wake of heightened tensions sparked by an attack from the Islamist group Hamas, followed by Israeli airstrikes on Gaza.
As a response to the unfolding situation, the Inditex Group, which franchises 84 stores in Israel, predominantly under the Zara and Pull&Bear brands, has made the decision to keep these outlets closed. Their statement on local websites explains that this is a temporary measure, and return deadlines have been extended by 30 days from the reopening date.
In addition to Zara and Pull&Bear, Inditex operates outlets for Bershka, Stradivarius, Massimo Dutti, and Zara Home in Israel, all under franchise agreements.
Mango, another renowned Spanish fashion retailer, has temporarily closed the majority of its approximately 50 stores in Israel. These Mango stores are also managed by franchise partners, with a select few that remain open while awaiting further developments.
Tous, a jewelry brand with 12 stores in Israel under a franchise agreement, is currently facing temporary closures as well.
In addition to these retail chains, other Spanish companies with operations in Israel may be impacted by the escalating regional tensions, depending on the course of events.
For instance, Comsa, part of a Spanish-Israeli consortium, recently finalized an agreement for the construction and operation of a new tramline in Jerusalem. As of now, this conflict has had no impact on their operations, as construction has not yet begun, and they have no staff deployed in the country.
Similarly, Indra, a technology and consulting company, has minimal exposure to the region, with only 0.1% of their revenue, approximately three million euros, generated in Israel. As a result, the company’s operations and financial stability remain largely unaffected by the ongoing events in the area.
The situation is evolving, and these affected companies are closely monitoring developments to determine when it will be safe to reopen their doors and resume business activities in Israel.