Zara to return to Ukraine after 2-year closure, FT reports

Credit: REUTERS/YVES HERMAN

Adds details from the report in paragraphs 3,5,6 and background in paragraph 7

March 1 (Reuters) - Spanish retail giant Zara is preparing to reopen the stores in Ukraine that it shut soon after Russia's invasion of the country, the Financial Times reported on Friday.

Zara's owner Inditex ITX.MC 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 affected by the war, where the Ukrainian government has prohibited commercial operations, according to FT.

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.

(Reporting by Harshita Meenaktshi in Bengaluru; Editing by Rashmi Aich and Sherry Jacob-Phillips)

((HarshitaMeenaktshi.R@thomsonreuters.com;))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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