Business news from Ukraine

Inditex confirms reopening of Zara stores in Ukraine to foreign press

1 March , 2024  

International retailer Inditex plans to reopen 50 Zara stores in Ukraine that have been closed since the beginning of the full-scale invasion, Reuters reported citing the Financial Times.

According to the report, the retailer plans to resume operations gradually from the beginning of April. The first to reopen will be 20 stores in shopping centers in Kyiv, including three outlets.

In total, 50 stores are planned to reopen, while 34 outlets located in the south and east of Ukraine will remain closed for now, the article says.

It is noted that Inditex has informed local landlords of its plans to open. “Interfax-Ukraine sent relevant requests to Ukrainian businesses.

The retailer’s plans to resume operations in Ukraine were confirmed to the agency by Dmytro Lashin, CEO of the capital’s Lavina Mall and Blockbuster Mall.

“Yesterday in a telephone conversation we confirmed the opening in April. They will open within a few days in different locations,” he told Interfax-Ukraine.

Inditex, owned by Spanish billionaire Amancio Ortega, operates clothing, footwear and accessories stores under the Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterque brands. At the end of 2022, sales reached 32.6 billion euros (+17.5% compared to 2021). Net profit increased by 27% to €4.1 billion.