American clothing retailer Gap and German liqueur maker Jagermeister will leave the Russian market.
Why Gap is leaving. On the departure of a clothing retailer reported publication “Izvestia” with reference to employees of the consulting company CORE.XP and other market participants. The Gap network will completely curtail business in Russia and close all 11 stores in the country.
According to experts, the company’s decision is connected not only with the Russian invasion of Ukraine. Until February, the network had problems with revenue.
What else is known about Gap. At the end of October Reuters discoveredthat Gap continued to send clothing to Russia despite the chain’s announcement that it would stop deliveries.
Between March 11 and July 16, Russian customs cleared 1,585 shipments of clothing worth $5.2 million, according to Reuters. All shipments were accepted by the Gap franchisee in Moscow, and the London branch of the network is listed as the sender.
Representatives of Gap denied information about deliveries after March 10. Later, they clarified that clothes that were issued before the March statement of the company got into Russia.
Why is he leaving Jagermeister. The liqueur manufacturer notified the Federation of Restaurateurs and Hoteliers of the suspension of supplies to Russia. About this vice-president of the organization Sergey Mironov told news agency “RIA Novosti”.
According to Mironov, distributors are looking for new delivery options. Suppliers have also notified restaurants of a price increase for bottles of Jägermeister that remain in stock.
What you need to know. After the start of the war in Ukraine, clothing chains and alcohol suppliers left the Russian market. For example, from Russia gone Uniqlo, Nike, H&M, Puma, Levi’s and other brands. Also in the country stopped supply alcohol from Pernod Ricard, Diageo and Bacardi.
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