Interview: how Ukrainian firm thrived in the ‘most challenging’ period in its history

IBIS – owner of the Favorite fishing brand – has survived and prospered during the deadly conflict in Ukraine. Its Executive Director Evgeniy Sheiko (pictured) tells Angling International how.

How has IBIS fared during the turbulent war years?
IS: IBIS has gone through one of the most challenging periods in its history – and at the same time one of the most transformative. Despite a fishing tackle market that has declined by up to 40% since the beginning of the war, IBIS has managed to maintain its pre-war turnover levels in dollar terms and continue growing across its core business lines. While many Ukrainian private labels relocated their focus almost entirely to Eastern Europe, IBIS remained deeply engaged in the domestic market. At the same time, we expanded into new product segments and developed new brands, including VIKING (for ice fishing), brands for the mass market and DIY retail segment, FRONTIER (apparel), and SKIF (outdoor equipment and knives). An important development has been the expansion of our R&D capabilities. Our product development team has grown from five people in 2021 to 21 specialists today, managing up to 70 projects annually and launching around 900 SKUs per year, compared to approximately 500 before the war.

What is the state of the fishing industry in Ukraine?
When the war began in early 2022, the fishing industry entered a period of near total chaos. Since then, the market has stabilised at approximately 40% below its pre-war size, which now represents a new baseline. Several factors continue to shape the market. Mobility and psychological pressure play a major role. Due to the large number of checkpoints and ongoing mobilisation risks, many men are reluctant to travel far outside their cities. Not all documentation situations are fully resolved and there is a real fear of being mobilised directly at checkpoints. As a result, domestic travel and fishing tourism are significantly reduced, with activity concentrated within urban or near-urban areas. Boat fishing is heavily limited as bridges and waterways are considered strategic infrastructure. In parallel, large-scale fishing events and tournaments are not taking place, as public entertainment events are widely considered inappropriate during wartime. As a result, the market lacks the event-driven energy and competitive culture that historically stimulated demand, innovation and engagement. At the same time, a growing number of anglers are active military personnel, which has shifted demand towards more affordable, functional gear, often purchased for short-term use. Currency depreciation has further reduced purchasing power and accelerated this trend. Power outages have also influenced behaviour, leading people to spend more time outdoors and offline, making fishing an important form of mental recovery.

How has IBIS responded to these challenges?
IBIS chose to increase investment in product development, treating sourcing and manufacturing as an integral part of R&D. In 2025, the company launched a fishing line programme with YGK and a major fluorocarbon project with Kureha (producer of Seaguar) under the Favorite brand, combining Japanese material science with market-driven product development. In parallel, IBIS has begun developing a domestic manufacturing cluster in Ukraine, cooperating with – and in some cases acquiring – local producers of lures and terminal tackle. This strategy strengthens resilience, reduces dependency on long supply chains and positions Ukraine as part of the European manufacturing ecosystem. IBIS also works closely with Ukrainian rod builders, widely regarded among the best in the world. Today, much of the engineering, design and prototyping takes place in Ukraine, while final large-scale assembly is completed in Asia. This hybrid model significantly accelerates development and strengthens the OEM and private-label capabilities of IBIS.

What role does Poland play for IBIS?
Poland (offices shown below) plays a strategic role in the international structure of IBIS. While most back-office and product development functions remain in Ukraine, the Polish team now includes nearly 40 people, supporting both fishing tackle and other divisions.

In fishing tackle alone, IBIS ended the year working with 473 retail partners in Poland under a strict B2B model, with no plans to develop its own retail network. In 2025, IBIS began construction of a 5,800sqm warehouse and office facility near Łódź, designed to serve the Polish market and support export partners across Europe. In July 2025, IBIS also hosted its annual distribution meeting in Warsaw, bringing together key partners from more than 20 countries. During the event, the 2026 product roadmap was presented and the feedback received directly influenced products that are now in production. Today, IBIS brands are distributed in more than 40 countries across six continents.

Are you confident for the future?
Yes, cautiously and consciously optimistic. IBIS enters 2026 with a strong pipeline of products already in development, production or delivery. There is growing hope for peace in Ukraine, which would provide a powerful boost not only for the market, but for people’s ability to plan, recover mentally and invest in the future. Beyond Ukraine, we see significant opportunities for further penetration in Poland and across Europe, supported by stronger infrastructure, deeper partnerships and expanding manufacturing and OEM capabilities.

And finally… I would like to thank all our partners – distributors, suppliers and collaborators – and everyone who has supported IBIS and Ukraine throughout the war. This support has been invaluable and made it possible not only to stabilise, but to grow. We firmly believe that Ukraine represents the future of European manufacturing. With the rapid growth of engineering capabilities and defence-related technologies, the country is emerging as a production cluster that will increasingly complement – and in some cases replace – traditional Asian manufacturing. IBIS is open to cooperation in OEM projects, design and production and manufacturing partnerships, and we are ready to take on ambitious projects across global markets.

Fastest growing segment becomes most important strategically

The garment and outdoor segment has become one of the fastest-growing and most strategically important directions within the IBIS Group.

“Over many years, we have built strong positions across several categories – firearms, fishing, outdoor as well as apparel and footwear,” explains Evgeniy Sheiko, Executive Director of IBIS Group. “Consistent results in these businesses, combined with transparent operations and strong feedback from international partners, have shaped the group’s image as a reliable, professional and long-term-focused distributor.”

Operating in Ukraine during wartime has also influenced the company’s development path. Beyond commercial growth, IBIS became directly involved in protective apparel projects for emergency and professional services, establishing close cooperation with apparel experts and laboratories both in Ukraine and internationally.

Its clothing portfolio now includes several strategically important directions.

Grundéns was selected as the cornerstone brand for fishing apparel. “The relationship began at ICAST 2024 and was further developed through several visits to Grundéns’ headquarters in Sweden, where both teams worked closely on assortment selection, positioning and long-term cooperation,” said Sheiko. The first product consignment arrived at the end of 2025 and is now available.

Alongside international brands, IBIS continues to expand its apparel offering through private labels. A defining moment for this direction came when IBIS received an official request to design a protective suit for the State Emergency Service of Ukraine (DSNS), the first responders following Russian attacks on Ukrainian cities.

“IBIS made a conscious decision to take on this responsibility and launched a full-scale development process,” Sheiko explained. “We worked with multiple laboratories, sourced materials globally and gradually formed a fully staffed in-house team specialising in technical apparel. This experience fundamentally reshaped our competencies and resulted in the creation of our first fully specialised apparel product.”

This project became the foundation for FRONTIER, a Ukrainian brand focused on uncompromising functionality, durability and performance within a civilian aesthetic. Initially developed for Ukraine, FRONTIER is seen as a long-term project with future potential for European markets.

In footwear, IBIS has also built strong positions through its cooperation with Salomon. The company is now one of the key and largest partners of Salomon Forces, the brand’s specialised tactical footwear collection, supplying professional users and institutional clients.

This cooperation played an important role in IBIS securing the distribution of Arc’teryx PRO in Ukraine.

Arc’teryx designs and builds its professional products for Military Special Forces and Law Enforcement Counter Terrorist Units, with direct feedback from these users shaping both in-line products and prototypes. Historically, this philosophy was embodied in the Arc’teryx LEAF line, which was fully closed to public access.

Starting from 2026, this direction has evolved into two distinct segments: Arc’teryx PRO MISSION and Arc’teryx PRO ESSENTIALS.

PRO MISSION remains closed to the public and is available exclusively to authorised professional units through a dedicated compliance process. PRO ESSENTIALS, by contrast, opens access to Arc’teryx’s highest technologies for advanced outdoor users and fishermen seeking top-tier technical solutions without operational restrictions.

Importantly, Arc’teryx PRO and PRO ESSENTIALS are not available through Arc’teryx’s own retail stores or e-commerce platforms. Distribution of these lines is handled exclusively through selected professional distributors, making the partnership with IBIS a unique opportunity for the Ukrainian market.

“In the Ukrainian context, this cooperation carries both strategic and practical significance,” said Sheiko. “Our primary objective is to ensure controlled and responsible access to world-class equipment for professional forces at a time when such capabilities are critically important for the country.”

Initially, both PRO MISSION and PRO ESSENTIALS will be available exclusively through IBIS channels, with dedicated Arc’teryx PRO corners created in five stores across Ukraine. In addition, a specialised showroom in Kyiv will be established for law enforcement and professional users, providing a focused environment for fitting, evaluation and potential cooperation with state institutions.