Uterqüe collections will be available only in Massimo Dutti stores and online channels.
Spanish Inditex Group, the largest fashion retailer in the world by revenue, has decided to close its Uterqüe chain of fashion apparel and accessories. All of the chain's stores will close in 2022. Today the chain has more than 80 outlets in 16 countries around the world.
As part of the business reorganization, the Uterque brand will be integrated into Massimo Dutti, the most expensive brand in the Inditex portfolio, which features collections of men's and women's classic and casual wear in the mid-plus segment.
The brand will continue to exist, but collections of Uterque will be available in Massimo Dutti stores, while the brand network will be completely phased out. The online store Uterqüe will continue to operate as usual, reports Business Insider Espana.
Uterqüe was founded in 2008 and later joined the portfolio of the international fashion giant, which since then has also expanded beyond its brands Zara, Pull & Bear, and Massimo Dutti, launching Bershka, Oysho, Zara Home and adding Stradivarius to its family.
Earlier it became known that Inditex Group increased its revenue for the first half of 2021 by one and a half times and nearly reached pre-crisis levels. The company's net profit rose to 1.27 billion euros against a loss of 195 million euros recorded in the first half of last year when thousands of Inditex stores worldwide were closed due to restrictions.