Home

Tags

Russia

Russia news and archive

Agent Provocateur under scrutiny for continuing to sell its lingerie in Russia

British lingerie brand Agent Provocateur has come under scrutiny for selling its collections in Russia. The business is operated indirectly via a franchise agreement, and has locally managed boutiques. Leave Russia, a team of Ukrainian researchers, analysts of KSE Institute and volunteers, launched a website in the early stages of the invasion,...

14 Dec 2022

Fashion Featured

Russian oil linked to western fashion, says report

A new report has linked Russian oil to the clothes made by the world's leading retailers and brands, with hidden supply chains and tier 3 manufacturing contracts, despite the global sanctions in effect. Of the many brands having exited or paused sales within the Russian market, there is ample proof some are producing collections using Russian...

7 Nov 2022

BusinessFeatured

Zara-owner Inditex to sell all businesses in Russia

Spanish fashion retailer Inditex said Tuesday it would sell its business in Russia, seven months after the Zara-owner halted its operations in the country following the invasion of Ukraine. "Inditex has reached an initial agreement for the sale of its business in the Russian Federation to Daher group, which has prominent interests in the retail...

25 Oct 2022

Business

Former Sephora stores reopen in Russia under new brand

A number of former Sephora stores have reportedly reopened in Russia on Monday under its new ownership, Ile de Beauté. According to Reuters, the Russian firm, which recently bought up the LVMH-owned retailer’s subsidiaries in the region, had thanked returning customers in a message on its website and promised to provide a range of international...

11 Oct 2022

Business

Sanctions at work: Over 1,000 companies have restricted operations in Russia

Over 1,000 companies have voluntarily curtailed operations in Russia since the onset of the Ukraine invasion. Figures from the Yale Chief Executive Leadership Institute (CELI) published its latest list of businesses on 14 September after tracking over 1,200 companies. The list grades companies on a scale from A to F for the completeness of...

20 Sept 2022

BusinessFeatured

H&M to sell Russian assets to ‘friendly’ company

Global retailer H&M is reportedly looking into selling its Russian business a few weeks after it announced it was “winding down” its operations in the country. Initially reported by Reuters, the group’s decision to sell was announced in a statement by the Russian Ministry of Industry and Trade, which said a potential buyer could be either a...

1 Aug 2022

BusinessFeatured

H&M Group begins ‘winding down’ in Russia

Following its decision to pause all sales in Russia, as announced March 2, the H&M Group has now said that it will be taking steps to wind down its business in the country, citing “operational challenges and an unpredictable future”. As part of the process, the group, which has been operating in the region since 2009, will temporarily reopen its...

18 Jul 2022

Business

LVMH-owned Sephora sells Russian subsidiary

Beauty retailer Sephora has announced it has come to an agreement to sell off its Russian subsidiary, following a flurry of Western brands exiting the region. The deal, which includes the sale of 100 percent of its shares for the Russian business, has been made with the country’s local general manager, with the goal of favouring continuity for...

12 Jul 2022

Business

Nike to fully exit Russia following Ukraine invasion

US sportswear giant Nike is the latest fashion company to completely cut ties with Russia. Nike will fully exit the Russian market three months after suspending operations there, the company told Reuters Thursday. It is the latest in a spate of Western brands to cut ties with Russia following its invasion of Ukraine. Rivals Adidas and Reebok...

24 Jun 2022

Retail

Mango to franchise Russian stores to local partners

Spanish retailer Mango has announced plans to franchise its stores in Russia to local partners. It comes after the company said in March it would temporarily cease its operations in Russia following the country’s invasion of Ukraine. Since then, 55 company-owned stores and its online platform in Russia have been inactive. Mango said in a...

20 Jun 2022

Fashion Featured

Russian shoppers are turning to grey markets to buy fashion and luxury

Russian consumers are turning to grey markets for their shopping needs after sanctions have made access to local fashion and luxury labels difficult, if not impossible. Like China’s daigou – personal shoppers who buy luxury goods abroad and resell them at home with a small markup but do so avoiding the hefty tariffs – a new breed of personal...

16 Jun 2022

Fashion

Harrods to limit sales of luxury to Russian consumers

It has not been a good week for Russian shoppers. After the announcement that McDonald’s was withdrawing from the Russian Federation, Harrods has reportedly informed its Russian clients it can no longer sell high priced luxury goods in the wake of Russia’s invasion in Ukraine. Several news outlets have stated that limited sales to Russia’s high...

18 May 2022