Spanish retail giant Zara is preparing to reopen the stores in Ukraine that it had shut after Russia's invasion of Ukraine, Financial Times reported on Friday.
Zara's owner Inditex has told local landlords that it will begin reopening its shops in Ukraine in early April, the report said, adding that the retailer plans to reopen 50 of its 80-plus stores in the country
The 34 shops that will remain closed are in parts of south and east Ukraine directly directly affected by the war, where the Ukrainian government has prohibited commercial operations, according to FT.
Inditex did not immediately respond to a Reuters request for comment.
The Spanish group will reopen gradually with 20 stores, including three Zara outlets, in Kyiv shopping centres, the FT report said, adding that the company will eventually open a total of 50 shops countrywide.
Inditex could not say how long the process would take, the report said.
In 2022, the Zara owner followed some of the biggest western brands, which have suspended operations in Russia and Ukraine, including its main rival H&M, following the invasion and the imposition of economic sanctions.
(Published 01 March 2024, 06:42 IST)
JOIN US