The Swedish Hennes & Mauritz AB (H&M), the owner of Europe’s second largest clothing store chain, plans to open its fourth retail outlet in Ukraine on June 11 – the largest H&M store in the Ukrainian chain will be located in the Dream Town shopping and entertainment center, the press service of the shopping center said last week.
“On June 11, we will open a new store of the Swedish H&M chain, which will be the largest in Ukraine. So there will be a place for all departments: H&M Sport, H&M Mama, H&M +, LOGG and of course the big H&M Home,” Dream Town Director Yemets quoted in a message.
This will be the first H&M opening in Ukraine this year.
As reported, on September 12, 2019, H&M opened a store in the River Mall at 12, Dniprovska Naberezhna Street in the Darnytsky district of Kyiv, expanding the Ukrainian retail network to three stores. Its area was 2,900 square meters.
The Swedish retailer H&M entered the Ukrainian market in 2018, opening the first store with an area of 2,900 square meters in the Lavina Mall shopping center. The second brand store opened in October 2018 in the Sky Mall.
Leroy Merlin Ukraine LLC (Kyiv), developing the DIY hypermarket chain of the French brand Leroy Merlin, plans to open a new store in Kyiv in 2010 and is seeking to open two stores of the chain every year in the future, including in large cities of the Ukrainian regions.
“This year we will open a new store in Kyiv. We know that we can open at least two stores a year, and not only in Kyiv, but also in the regions. Cities such as Odesa, Lviv, Kharkiv, Dnipro are large cities with about one million of population. We are sure that we have the opportunity to open stores there,” Director General of Leroy Merlin Ukraine Cedric Brosset said during an online broadcast on Tuesday.
According to him, the company is considering reducing the size of stores, in particular, the area of the new store in the Kyiv’s Retroville shopping center is 5,000 square meters. Brosset said that the reduction in format did not affect the assortment volume and was made possible thanks to efficient logistics and an increase in the share of online sales.
In addition, in hypermarkets during lockdown, the number of click & collect points for picking up online orders was increased.
Leroy Merlin Ukraine LLC was registered in 2008. As of May, 2020, the company had five Leroy Merlin stores in Kyiv and one in Odesa.
The Swedish company IKEA, the world’s largest retailer of furniture and household goods, has updated its plan to enter the Ukrainian market, deciding to launch e-commerce first. “In order to make the range of IKEA functional products with attractive designs and prices affordable for as many people in Ukraine as possible, the company decided to launch e-commerce first. The expected launch date is spring 2020,” the company said. At the same time, they confirmed their intention to open a store in Kyiv.
“IKEA confirms its commitment to Ukraine and plans to open the first store in Kyiv as soon as possible after the launch of e-commerce,” the company said.
As reported, in the summer of 2019 IKEA announced the launch of an official website for Ukrainian consumers and the recruitment of staff to work in the first urban-format store in Kyiv (about 100 employees). The opening of the store was scheduled for the end of 2019.
In September 2018, IKEA officially announced the opening of the first city store in Ukraine in 2019. The facility was supposed to be opened in the Ocean Mall trade center in Kyiv. However, the retailer later said that due to the delay in building the shopping center, the company is considering alternative ways to start business in Ukraine.
The network in Ukraine is developed by IKEA Southeast Europe, which is part of IKEA Group (Ingka Holding B.V.). The company is engaged in the retail business of IKEA in Croatia, Serbia, Romania, and Slovenia.
New Yorker Ukraine LLC (Kyiv), which is developing the German clothing and footwear network New Yorker in Ukraine, opens a store in the River Mall trade center at 12 Dniprovska Esplanade in Darnytsky district of Kyiv, thereby expanding the Ukrainian network to ten stores.
According to the press service of the mall, the store will be located on the second floor of the facility and will occupy 1,100 square meters.
The outlet will be the fourth one in Kyiv and the tenth one in Ukraine.
The New Yorker network has been developing in Ukraine since 2011.
According to the company’s website, as of August 22, 2019, the chain had nine stores in Kyiv, Odesa, Lviv, Kharkiv, Kryvy Rih, and Sumy. The New Yorker international chain has more than 1,000 stores in 40 countries.
Ukraine’s banks almost quadruple net profit in Jan-July 2019
KYIV. Aug 22 (Interfax-Ukraine) – Solvent banks in Ukraine in January-July 2019 received UAH 36.7 billion in net profit, which is 3.7 times more than in the same period in 2018, the National Bank of Ukraine (NBU) has said.
According to its data, the income of banks this year increased by 30%, to UAH 141.4 billion, while expenses by 6%, to UAH 104.7 billion.
Based on the previously released data, in July, the net profit of Ukrainian banks grew by 3.8 times, to UAH 5.69 billion: revenues increased by 23.1%, to UAH 20.34 billion, while expenses decreased by 2.5%, to UAH 14.65 billion.
The main factors in the growth of bank profit are the increase in net interest income by 19%, to UAH 46.3 billion, the growth in net commission income by 16%, to UAH 24.7 billion, a positive result from revaluation and from sale and purchase operations (UAH 10.6 billion), a decrease in deductions for reserves to UAH 6.3 billion against UAH 11.6 billion last year.
The NBU expects the sector returns to remain high in 2019.
As reported, in 2018, the banking system’s profit reached a historic high of UAH 21.7 billion.
Fozzy Group has opened a new supermarket Fora with an area of 1,500 square meters in the Cherry Mall trade and entertainment center (Vyshneve, Kyiv-Sviatoshynsky district of Kyiv region), expanding the network to 244 objects.
“One of the main anchor tenants, the modern Fora supermarket, has opened in the new Cherry Mall trade center. The operator is located on the ground floor of the shopping center on an area of about 1,500 square meters,” the press service of UTG, the exclusive agent for leasing retail space in Cherry Mall, said.
The assortment of the store includes 5,000 commodity items. In addition to six self-service cash desks, it has five regular cash desks and two express cash desks.
The retailer’s press service told the Interfax-Ukraine agency, the outlet is the largest one in the Fora chain. It became the 244th network object in Ukraine and the 221st one in Kyiv region.
According to UTG, the mall is completing internal repairs on leased space and is preparing for the grand opening of the mall. The total area of Cherry Mall will be 18,000 square meters, rental some 15,000 square meters, while 90% of the space has already been leased.
According to the company’s estimates, attendance at Cherry Mall in the first year will be about 15,000-18,000 people a day with the prospect of further growth to 20,000 people.
The Swedish owner of the clothing chain Hennes & Mauritz AB (H&M) will open a third store in Ukraine at River Mall shopping and leisure center at 12 Dniprovska Naberezhna Street on September 12.
As a press service of River Mall’s broker Colliers International (Ukraine) reported, the two-storey store with an area of 2,900 square meters will be designed in a new interior concept.
According to the broker, H&M Sport men’s collection will be on display in the new store for the first time in Ukraine.