MADRID (Reuters) -Zara owner Inditex said on Friday it planned to gradually reopen stores in Ukraine from April 1, citing improved local market circumstances.
The world’s largest listed fast fashion company by sales said it planned to reopen its first 20 stores in Ukraine, three of them under the Zara brand and resume online sales.
“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 change.
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, started reopening its stores in Ukraine in November last year, and now has seven stores open in Kyiv and Lviv.
(Reporting by Corina Pons and Inti Landauro, editing by Aislinn Laing and Tomasz Janowski)
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