Zara is opening its first store in China, while taking back the Russian license for the banner from Stokman, the Finnish department store group. The first Zara flagship is being inaugurated on the trendy Hua Huai Road of Shanghai. Two more Zara stores are set to open later this year in Shanghai and Beijing. Inditex, the Spanish company that owns Zara and other retail banners, has been sourcing only 12 percent of its products in China, but observers are speculating that the proportion will increase in connection with Zara’s new investments in Chinese retailing. This may be particularly true for Zara’s shoes, in contrast with a previous policy to keep at least 50 percent of their production in Spain and in other European countries. In the nine months ended Oct. 31, Inditex posted a net profit of €520.5 million on 20 percent higher sales of €4.65 billion. The total number of stores grew by 323 units to a total of nearly 2,700.