Uniqlo operates about 50 shops in Russia.
SOPA Photos
The boss of clothes retailer Uniqlo’s mum or dad firm defended the choice to proceed retailer operations in Russia this week as many different companies exit the nation in protest of the Kremlin’s escalating invasion of Ukraine.
Quick Retailing CEO Tadashi Yanai mentioned he's in opposition to the warfare and urged each nation to oppose the battle, however he added his firm will nonetheless proceed gross sales in Russia as a result of they’re are a primary service to odd individuals.
Uniqlo operates about 50 shops in Russia.
“Clothes is a necessity of life,” Yanai mentioned in remarks first reported by Nikkei. “The individuals of Russia have the identical proper to stay as we do.”
Quick Retailing has taken steps to assist Ukrainians affected by the invasion, donating $10 million to the United Nations’ Refugee Company. The Uniqlo mum or dad additionally donated clothes to be distributed to Ukrainian refugees.
The corporate’s determination to remain lively in Russia got here as many retailers depart the area — with most condemning Russia’s unprovoked aggression or citing logistical considerations attributable to sanctions that arose from the battle.
On Saturday, Inditex, the mum or dad firm of clothes retailer Zara, mentioned it might quickly shut all of its roughly 500 shops in Russia and shutter its on-line gross sales operation within the nation.
“Within the present circumstances Inditex can not assure the continuity of the operations and industrial circumstances within the Russian Federation and quickly suspends its exercise,” the corporate mentioned in an announcement.
H&M, Nike and Apple are amongst different corporations which have halted operations in Russia through the invasion.
The shuttering of fashionable companies is simply one other signal of mounting financial stress on Russia, whose forex has cratered because of the sanctions.
Final week, The Submit reported that Russian consumers packed Ikea shops after the furnishings retailer mentioned it might shut shops attributable to operational considerations.
Post a Comment