Return to the fold: Inditex will reopen 20 of its shop in Ukraine

Inditex, the parent company of brands such as Zara, Bershka and Pull&Bear, will reopen 20 of its shops in Ukraine today. The company has also resumed online sales for Ukrainian consumers. McDonalds, H&M, Pandora and Yves Rocher are among other retailers to have reopened shops in Ukraine that has been forced to close following the start of Russia’s full-scale invasion in 2022.

The move comes at a time of positive economic growth for the country. “According to the latest official data, Ukraine’s retail turnover grew by 15 per cent in 2023, compared to a 21 per cent decline in 2022,” Hlib Vyshlinsky, executive director at Kyiv-based think-tank Centre for Economic Strategy, tells The Monocle Minute. “Ikea is the only major retailer that is yet to reopen. Further growth is expected this year, provided that the promised financial and military help arrives from G7 nations,” adds Vyshlinsky. “In contrast, there is growing anger towards companies that are still trading in Russia, which face the risk of having their assets confiscated.”

Origin: The Monocle.