Spanish clothing and accessories retailer Zara has shut the doors of its flagship store in China. The store, inaugurated in 2011 at Lesen Shopping Center in Chengdu, was dubbed as fashion brand’s third largest store in Asia.
If reports are to be believed, Zara closed the store last week and a notice has been put up on its front window requesting customers to visit other Zara stores in Yokado and Sino-Ocean Taikoo Li.
Zara is considered to be the most successful among all Inditex’s labels. It may be mentioned here that the fashion industry is facing the heat of global economic slowdown. Many brands have begun to adjust their businesses or have started filing for bankruptcies.