Inditex to Steadily Reopen Shops in Ukraine

Zara proprietor Inditex mentioned on Friday it deliberate to progressively reopen shops in Ukraine from April 1, citing improved native market circumstances.

The world’s largest listed quick trend firm by gross sales mentioned it deliberate to reopen its first 20 shops in Ukraine, three of them below the Zara model and resume on-line gross sales.

“The group’s precedence continues to be the protection of its staff and clients,” the corporate mentioned in a press release, confirming an earlier report from The Monetary Occasions.

Inditex closed its shops in Russia and Ukraine in March 2022 following Moscow’s invasion of Ukraine on Feb. 24 and subsequent Western sanctions.

The group had 72 shops open in Ukraine and 558 in Russia in 2019, in accordance with its annual report.

The style large agreed to promote its shops in Russia to UAE-based Daher Group later in 2022, although it didn’t rule out returning to the nation if circumstances change.

In Ukraine, Inditex goals to reopen 50 shops within the coming months, the corporate added with out specifying how lengthy the method would take.

One in every of Inditex rivals, the Swedish trend retailer H&M, began reopening its shops in Ukraine in November final 12 months, and now has seven shops open in Kyiv and Lviv.

By Corina Pons and Inti Landauro; Editors: Aislinn Laing and Tomasz Janowski

Study extra:

H&M to Reopen Most Ukrainian Shops

Trend retailer H&M will reopen most of its shops in Ukraine, starting in November of this 12 months, the Swedish firm mentioned in a press release.