Several global fashion and footwear brands including Nike, Mango, Zara owner Inditex, H&M, Marks & Spencer, Under Armour, Canada Goose, Puma as well as home furnishings brand Ikea have suspended operations in Russia following its invasion in Ukraine. Luxury brands like LVMH, Hermès and Kering among others have also temporarily closed their Russian stores.
“Deeply concerned by the situation in Europe at this time, it’s with regret that we have taken the decision to temporarily close our stores in Russia and pause all our commercial activities. We will continue to stand by our local teams,” Hermès said in a post on its LinkedIn account.
“Due to growing concerns regarding the current situation in Europe, Kering is temporarily closing its stores in Russia for its Houses that the Group operates directly in the country,” Kering said on its Twitter account.
Along with suspending operations in Russia, the LVMH Group has also announced essential financial and operational assistance for its 150 employees in Ukraine. “LVMH has also decided to make a first emergency donation of €5 million to support the International Committee of the Red Cross (ICRC) to help the direct and indirect victims of this conflict,” the group said in a statement.
Inter Ikea Group has announced its decision to pause all export and import in and out of Russia and Belarus, and pause all Ikea industry production operations and Ikea retail operations in Russia. “The war has had a huge human impact already. It is also resulting in serious disruptions to supply chain and trading conditions. For all of these reasons, the company groups have decided to temporarily pause Ikea operations in Russia,” Ikea said in a press release.
Moreover, Ikea Foundation, funded by Ingka Foundation, has also announced an immediate donation of €20 million for humanitarian assistance to those who have been forcibly displaced as a result of the conflict in Ukraine. In addition, Inter Ikea Group and Ingka Group are initially granting €10 million each to provide support in products and other assistance to UNHCR, Save the Children and other organisations working in the local markets.
Sports company Puma announced on Twitter that it has decided to suspend operations of all its stores in Russia.
Another sportswear company Under Armour said in a statement that it has stopped all shipments into its sales channels in Russia and has partnered with humanitarian groups to provide what is needed for those displaced.