Spain's Inditex fashion retailer reopens some stores in Ukraine

MOSCOW. April 3 (Interfax) - Inditex, the Spanish parent company of popular clothing brands including Zara, Bershka, and Pull&Bear, reopened the first 20 stores in Ukraine on Wednesday, April 3, Ukrainian media said, citing the Ukrainian Council of Shopping Centers.

All of the reopened stores are located in Kiev, the council said. More Inditex Group stores in Kiev will resume operations on April 5. They include two more stores of the Pull&Bear, Stradivarius, Massimo Dutti and Oysho brands each and other stores.

Inditex Group will reopen its stores in the city of Lvov as the next phase, scheduled to start before April 11.

Inditex announced plans to reopen its stores in Ukraine on March 1, 2024, after halting its Ukraine operations at the start of the crisis.

According to The Financial Times, Inditex notified local lessors that it would start reopening its stores in Ukraine in early April. The retailer plans to reopen 50 out of its more than 80 stores across the country.

Thirty-four outlets, located in Ukraine's southern and eastern regions, will stay closed.

Spain's Industria de Diseno Textil SA (Inditex), the world's largest fashion retailer owned by billionaire businessman Amancio Ortega, operates clothing, footware and accessories stores under the Zara, Pull&Bear, Massimo Dutti, Bershka, Stradivarius, Oysho, Zara Home and Uterque brands. The company posted revenue of 35.95 billion euros in the previous financial year. Its net profit rose to 5.38 billion euros from 4.13 billion euros the year before. The company's capitalization soared 40.8% to 125.65 billion euros. The IBEX 35 index added 13.4%.