The book market near the “Pochayna” metro station in Kyiv, which had been operating since 1997, was completely destroyed by fire. In addition to the market stalls, offices and warehouses adjacent to it were also damaged. Evgeniya Loktionova, director of UTG company, spoke exclusively to Forbes about the prospects for rebuilding the market, which is owned by Vagif Aliyev’s Mandarin Plaza group.

As a result of the missile attack on Kyiv on August 16, the book market on Verbova Street near the “Pochayna” metro station was destroyed by fire. What made the Pochayna market unique among Kyiv’s retail properties?

Indeed, the “Pertivka” market was the largest specialized hub in Ukraine. At its peak, this book market in the capital had 727 organized sales stalls. The facility functioned not merely as a retail outlet, but as a unique B2C and B2B platform (meaning its customers included both individuals and companies), where more than 120 publishing houses sold their products directly.

Has it remained popular today, or has its popularity declined? What is the reason for this?

In recent years, the overall popularity of the “Petrivka” market has declined somewhat compared to its peak years. This is due, first and foremost, to digitization and online retail. After all, the mass shift of readers toward e-books and audiobooks, as well as the growth of large online bookstores and marketplaces, has significantly reduced the need to visit a physical market for fiction or popular literature.

Second, large and comfortable bookstores with cafes and reading areas (such as Readeat, “Ye” Bookstore, and Vivat) have opened in Kyiv. They have captured a portion of the “Perrivka” market’s audience that used to buy new releases.

Third, frequent air raid alerts and the overall security situation in the capital have reduced the flow of casual visitors to the market.

The owner of the book market (Mandarin Plaza) has not yet made a final decision on whether to reopen it. In your opinion, should it be reopened exactly as it was before? Or would it be better to revamp its format and concept?

Having served for many years as the director of UTG – a full-service company that supports developers throughout the concept development, implementation, design, and construction phases of business projects by providing consulting services – I can say that the most sensible approach would be to radically revamp the format while preserving the authentic concept.

For example, the first thing that needs to be addressed is the issue of outdated safety and comfort standards. Specifically, the old metal patches and narrow passageways posed a fire hazard (which also exacerbated the scale of the tragedy during the shelling). The facilities lacked proper ventilation, heating in the winter, and accommodations for people with limited mobility.

Furthermore, restoring the market to its former state does not yet make economic sense. After all, modern retail demands convenience, and if shoppers are forced to choose between a cold, metal kiosk and an online store, the market will quickly go bankrupt due to a drop in traffic.