H&M is tip-toeing it’s way back into the Ukrainian market.
The Swedish fast-fashion retailer temporarily closed stores there in February last year when Russia invaded the neighboring country. On Thursday, H&M said it plans to “gradually reopen” most of its stores in Ukraine starting in November.
The Monki owner said it has been in “close dialogue with partners and authorities,” as well as local stakeholders regarding how to best support the country and the communities where it operates as Ukraine looks to rebuild. H&M plans to partner with organizations on the ground on relief and rebuilding efforts.
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The retailer emphasized that the safety of employees and customers “will always be the first and foremost priority.” It will continue to monitor developments in the country as it prepares to reopen stores where possible.
Russia’s invasion of Ukraine last year escalated the Russo-Ukrainian War that began in 2014. In addition to Ukraine, H&M also suspended sales in Russia and Belarus in March 2022.
H&M did not break down the number of stores it has in Ukraine, Russia and Belarus, but previously said 181 stores were affected by the move to pause operations.
Losing the three countries has affected business, CEO Helena Helmersson shared in a recent company presentation. “The third quarter has largely been impacted by our decision to pause sales and then wind down the business in Russia,” she wrote, noting the “significant effect” on sales and profits.
Meanwhile, H&M is set to launch a collection of gender-neutral children’s apparel and accessories next month with Eva Chen, former Teen Vogue editor and Instagram’s director of fashion partnerships. Earlier this month, the company announced plans to begin phasing out operations in Myanmar, where the Cos and Monki owner said it would be probing 20 alleged instances of labor abuse at its supplier factories.
Earlier this year, the company said it was merging its youth brands Monki and Weekday to create one destination for younger customers. At the same time, H&M was also reviving Cheap Monday, the denim label it discontinued in 2019, but will now bring back next year with a small assortment of jeans.
The fast-fashion chain is making investments in Brazil, where it expects to launch branded stores and an e-commerce platform in 2025. The company has had a Latin American presence since 2012 when it entered in Mexico, before expanding to Peru, Uruguay, Chile, Columbia, Ecuador, Guatemala, Panama and Costa Rica.
