The Spanish clothing company Mango has decided to close its business in Russia, La Vanguardia writes on June 19.
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The brand has reached agreements with several franchise partners to transfer its business to them and retain the jobs of 800 employees. The company sold all 55 stores, while the amount of the transaction has not yet been disclosed.
Russia was one of the five largest sales markets for the company. The brand’s stores suspended work on March 3.