Inditex, the parent company of Zara, confirmed on Jan. 8 that it will close all of its stores in China for its Bershka, Pull&Bear and Stradivarius brands, and expects to complete the work on these stores by mid-2021.Inditex responded, "Based on our ongoing analysis of consumer demand in China, Inditex's young brands will focus on strengthening their e-commerce development."According to people familiar with the matter, large fast-fashion giants like Inditex have "escape clauses" at stores, which allow them to terminate lease agreements with three to six months 'notice to owners and close stores without liability.
