Delta Sport sold Zara - Franchise sold to parent company Inditex from Spain for EUR 23 million

Brands Zara, Massimo Dutti, Pull and Bear, Stradivarius, Bershka and Oysho in the markets of Serbia and Montenegro will from now on be directly represented by the company Inditex from Spain.

Delta Sport group, which has been representing Inditex brands on this territory over the last five years, has made a decision to sell the franchise business to the parent company for EUR 23 million.

As Delta Sport CEO Goran Karic explained for Blic daily newspaper, it is a practice in each big franchise business that the franchisee and franchiser consider the best possibility after a certain time and choose the best moment for selling the business, that is, taking over the operations in certain market.

The company Delta Sport now starts a new five-year cycle, during which it plans to bring and position new brands in the market of western Balkans, as well as to expand the business.

- We have signed an agreement with one of the world's leading quick fashion brands and the first store will soon be opened in Belgrade. We are also close to finish the negotiations with several brands in the domains of catering and entertainment, which will enable us to additionally strengthen our leading position in the market - Karic stressed.

The first Zara store in Serbia was opened by this company in 2005, which then opened the stores of other Inditex brands within shopping centers in Belgrade and Podgorica.