© Reuters. FILE PHOTO: People walk past a Zara shop window at Passeig de Gracia in Barcelona, Spain, December 11, 2023. REUTERS/ Albert Gea/File Photo
ITX
+0.22%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
HMb
+0.44%
Add to/Remove from Watchlist
Add to Watchlist
Add Position
Position added successfully to:
Please name your holdings portfolio
Type:
BUY
SELL
Date:
Amount:
Price
Point Value:
Leverage:
1:1
1:10
1:25
1:50
1:100
1:200
1:400
1:500
1:1000
Commission:
Create New Watchlist
Create
Create a new holdings portfolio
Add
Create
+ Add another position
Close
MADRID (Reuters) -Zara owner Inditex (BME:ITX) said on Friday it planned to gradually reopen stores in Ukraine from April 1, citing “local market circumstances” for the decision.
The world’s largest listed fast-fashion company by sales said it planned in a first phase to reopen 20 stores in Ukraine, three of them under the Zara brand and resume online sales. The first stores will be around the Kyiv region.
“The group’s priority continues to be the safety of its employees and customers,” the company said in a statement, confirming an earlier report from the Financial Times.
Inditex closed its stores in Russia and Ukraine in March 2022 following Moscow’s invasion of Ukraine on Feb. 24 and subsequent Western sanctions.
The group had 72 stores open in Ukraine and 558 in Russia in 2019, according to its annual report.
The fashion giant agreed to sell its stores in Russia to UAE-based Daher Group later in 2022, though it did not rule out returning to the country if circumstances changed.
In Ukraine, Inditex aims to reopen 50 stores in the coming months, the company added without specifying how long the process would take.
One of Inditex rivals, the Swedish fashion retailer H&M (ST:HMb), started reopening its stores in Ukraine in November last year and now has seven stores open in Kyiv and Lviv.
As of November 2021, the H&M group had eight stores in Ukraine.
Source: Investing.com
