Swedish clothing brand H&M will open its first store in Ukraine in 2018. The information appeared in the company’s six-month report for 2017.
“New H&M store markets planned for 2018 are Uruguay and Ukraine,” the document read.
H&M has been one of the most anticipated international brands in Ukraine, along with Ikea. Rumours of its entrance have been circulating for many years, but this is the first-ever official confirmation of such plans.
This spring H&M entered the markets of Kazakhstan and Colombia, and the brand has been a success there, according to the report. New openings are planned in Iceland, Vietnam, and Georgia.
The company also reported 9 percent growth in sales to over $13.3 billion during the first six months of 2017.
H&M (Hennes & Mauritz AB) is now present in 69 countries and is the second largest retailer in the world after Spanish Inditex Group. It includes H&M, COS, & Other Stories, Monki, Weekday, and Cheap Monday as well as H&M Home.
Another anticipated Swedish brand, homeware manufacturer Ikea, also has set its eye on Ukraine.
In early June the representative of the company told the Kyiv Post that Ukraine was “one of the markets that Ikea is exploring for expansion opportunities.”