Officially: H&M plans to enter the Ukrainian market for 2018

One of the most anticipated clothing brands in Ukraine, H&M, has officially confirmed plans to open stores in Ukraine by 2018.

Corresponding plans are containing in the company’s semi-annual report. “New H&M stores are planned by 2018 in Uruguay and Ukraine”,—  the document says. Recall, at the last year end, the media reported that one of the largest international retailers —  H&M —  seriously interested in the Ukrainian market. Matthias Lamberg, the company new markets development head, visited Ukraine and held talks with the largest shopping centers representatives, as LIGa.net wrote. Lavina Mall and Sky Mall were called among the key contenders for the first store opening in the country. However, the company itself previously denied plans for development in Ukraine.

The H&M brand was founded in Sweden in 1947. Since then, the company has grown into one of the world’s largest fashion-corporations. Now the chain consists of more than 4300 stores in 64 countries. In 2016, the company’s sales grew by 7% — to $ 25.2 billion, while the clothing retailer net profit decreased by 10.8% to $ 2.1 billion.

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