Onward
H&M Plans To Reopen Stores In Ukraine
The intention to gradually restart the majority of its stores in Ukraine has been declared by H&M Group, commencing in November.
In response to Russia’s invasion, H&M Group temporarily closed its stores in Ukraine in February 2022, and this determination follows.
Preparations are being made to reopen most H&M stores, as H&M Group continues to oversee the country’s situation, as confirmed on the company’s website.
H&M Group has been collaborating with local stakeholders to figure out how best to aid the country and local communities as they rehabilitate from the crisis.
As of November 2021, H&M Group had eight outlets in Ukraine, according to Reuters.
Besides H&M, the group is also the home to fashion brands like Weekday, Cos, Arket, and Monki. Following the incursion of Ukraine, H&M Group opted to exit the Russian market and explore fresh markets, including Latin America, to compensate for the revenue shortfall.
Image Source: Unsplash
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