War in Ukraine news and archive

Luxury Western goods line Russian stores, three years into sanctions

Despite a barrage of Western sanctions and swathes of brands quitting Russia after the Kremlin launched its Ukraine offensive, Moscow's most well-off shoppers are still spoilt for choice when it comes to luxury Western goods. In the Russian capital's exclusive shopping quarters, department stores and high-end Russian outlets are doing a roaring...

Fashion |In Pictures Featured

LFW: Ukrainian Fashion Week comes to London

On the last day of London Fashion Week, the British Fashion Council hosted a special catwalk showcase with Ukrainian Fashion Week, giving designers Kseniaschnaider, Paskal, and Frolov the opportunity to showcase their autumn/winter 2023 collections. The three Ukrainian guest designers held a joint show in London, as what would have been the 50th...

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...

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...

Retail

High cost of living is squeezing households and retailers alike

The increasingly high costs of living are squeezing fashion and retail businesses, particularly with customers shopping for bargain prices and goods on sale. British jeweller Joules in a trading update this week said its gross margins remained under significant pressure with consumer appetite weighted towards mark downs amidst a heavily...