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Novaya Moda, which operates the Maag, Dub, Ecru, and Vilet clothing stores, has turned a profit for the first time since 2022, RBC reported, citing the company’s financial statements.

Novaya Moda, AO, is the successor to Zara CIS, the former Russian unit of Spain's Inditex Group. Before 2022, the group operated Zara, Oysho, Bershka, Massimo Dutti and other brands in Russia. Inditex suspended operations after the start of the conflict in Ukraine and later sold the business to the Daher Group, a Middle Eastern retail operator which owns one of the world’s largest shopping malls –- the Dubai Mall. Its subsidiary, the Lebanese Azadea Group, holds the franchise for Inditex brands in Algeria, Bahrain, Qatar, and Oman. The Daher Group also operates Adidas, Calzedonia, Mango, Gap, Tezenis, Urban Outfitters, and Reserved stores under franchise agreements.

Novaya Moda’s net profit for 2025 stood at 1.7 billion rubles ($22.6 million) compared with a loss of 664.5 million rubles in 2024 and 5.3 billion rubles in 2023, the financial statements show.

Profit from sales rose 122% to 2.9 billion rubles in 2025, up from 1.3 billion a year earlier. In 2023, the company reported a loss of 4.4. billion rubles at the operating level. Retail remains the main sales channel, the company said. By the end of 2025, it generated 29.4 billion rubles, a 6% increase from the previous year. Online sales, while growing, still account for less than 10% of the total.

Total revenue increased 11% year-on-year to 31 billion roubles ($411.3 million), driven by changes in procurement, adjustments to product ranges and cost optimisation.

Novaya Moda operates more than 60 Maag stores and a similar number of Ecru outlets, along with about 50 Dub stores and 42 Vilet locations. The store network has seen only limited optimisation, with closures accounting for less than 2% of total locations, a company representative said. Most closures were linked to external factors, including decisions by landlords at certain locations.