US News Sales with H&M and Ikea in Russia

17:21  11 august  2022
17:21  11 august  2022 Source:   rp-online.de

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Moscow. The camps are cleared, staff are dismantled, shops are closed and factories sold. Both companies now handle their business in Russia, which they had paused into Ukraine after the Russian invasion.

 Menschen stehen vor einer H&M-Filiale in einem Moskauer Einkaufszentrum Schlange, um Kleidung im Schlussverkauf zu kaufen. © Alexander Zemlianichenko People stand in front of an H&M branch in a Moscow shopping center in line to buy clothing in the sale.

H&M and IKEA clear their camps in Russia, this week the final sale started. The Swedish textile trade company and the multinational furniture dealer are now handling their business in Russia, which they had paused into Ukraine after the Russian invasion. Discharges have been announced, but both companies have so far not given any specific figures.

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H&M only explained on Tuesday that 6000 employees would be affected by the company's withdrawal from Russia. Ikea said in June that many would lose their jobs and promised to pay wages for six months. This week Ikea stated that he had 15,000 employees in Belarus and Russia. For four furniture factories in Russia, buyers would be sought, it said in June, shopping and logistics centers in Moscow and Minsk.

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While there is a lot of activity in the H&M shops in the Awijapark shopping center in Moscow, Ikea only sells still online. The shelves in the Moscow H&M shop were still well filled, while shops were closed by Zara, Oyshi, Bershka, Pull & Bears and Uniqlo. Other shops of New York, Finn Flare, Marks & Spencer and Mango were open.

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"I will soon look for Russian brands," said an H&M customer who only wanted to call her first name Anja, on Tuesday. Another customer, Leonid, said he was very painful that H&M is going.

Many Western companies have announced their departure from Russia due to the Russian war of attack in Ukraine. McDonald's sold his 850 restaurants to a Russian entrepreneur who wants to reopen them under the name "Wkusno-i Tettschka" ("Delicious and ready"). The energy companies Shell and BP accept billions of costs to end their investments and Holdings in Russia.

H&M estimates the task of around 193 million euros for the task of his Russian business, which should be noted as a unique costs in the report for the third quarter.

There are also western companies that stay in Russia or at least partially want to continue their business. These include, for example, the French hardware store chain Leroy Merlin, which continues to operate twelve markets, while Pepsico, Nestlé and Johnson & Johnson only deliver vital goods such as medication and baby food.

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