Finnish retailer and department store operator Stockmann has agreed a deal with Spanish fashion giant Inditex SA to open three Zara stores in two countries next year.

The company said in a statement it will open two Zara outlets in Finland and one in Russia, although it did not disclose the financial terms of the agreement.

"As the first step of this agreement, a Zara store will be opened in the Mega Shopping Mall in Moscow. The Zara store at Mega with 1,800 square metres of space will open for the next spring season," Stockmann added.

"Next spring Stockmann will also open two new Zara stores in Finland, one in Turku and one in the Itakeskus shopping centre in eastern Helsinki."