Business news from Ukraine

Swedish fashion-retailer H&M to return to Ukraine after 3 months

Swedish fashion-retailer H&M plans to start a gradual reopening in Ukraine from November 2023.

“Earlier it was reported that H&M Group temporarily closed its stores in Ukraine from February 24, 2022. The company has been in close dialog with partners and authorities and now plans to gradually reopen most of its stores in the country from November 2023,” the company’s website pointed out on Thursday.

The statement emphasizes that preparations are underway to reopen most stores where possible, with employee safety remaining a top priority.

H&M also plans to participate in relief and recovery programs, cooperate with local organizations and support Ukraine in the reconstruction process.

Swedish company Hennes&Mauritz AB (H&M), owner of Europe’s second largest clothing chain, opened its first store in Ukraine in 2018.

H&M Hennes&Mauritz LLC was established in 2013. According to the data of the Unified state register of legal entities and physical persons-entrepreneurs, the ultimate beneficiary is Stefan Persson (Sweden).

At the beginning of the full-scale invasion, the H&M chain in Ukraine had eight outlets: five in Kiev, one each in Odessa, Kharkiv and Lviv.