The Swedish company H&M plans to close all retail outlets in Russia by the end of 2022, writes RBC with reference to a message posted on the Swedbank news portal.
H&M said that more than half of its stores have already closed in Russia – out of 172 existing ones. The press service of the company added that “the closure of stores is happening gradually, as planned. <…> We want to make sure that the termination of our activities in the country is carried out responsibly.”
General picture. The phased closure of H&M Group stores in Russia has been going on since September. By October 4, 42 stores in 23 Russian cities were closed, the press service told Paper.
Formerly RIA Novosti reportedthat H&M has begun to permanently close stores in Russia: for example, one of the Moscow stores in Kashirskaya Plaza is already closed, and in a store on Skhodnenskaya Street, customers are warned about the closure on October 5th.
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