Zara proprietor Inditex stated on Friday it deliberate to step by step reopen shops in Ukraine from April 1, citing improved native market circumstances.
The world’s largest listed quick vogue firm by gross sales stated 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 prospects,” the corporate stated in an announcement, 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 line with its annual report.
The style big 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.
Considered one of Inditex rivals, the Swedish vogue retailer H&M, began reopening its shops in Ukraine in November final yr, 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
Vogue retailer H&M will reopen most of its shops in Ukraine, starting in November of this yr, the Swedish firm stated in an announcement.
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