On the evening of March 2, local time, H&M, the world’s second largest fashion retailer and Swedish clothing brand, announced on its official website that it would suspend all sales in Russia.
Screenshot of H&M official website press release
“The H&M Group is deeply concerned about the tragic developments in Ukraine and stands with all those who are suffering,” the group said in a press release. The group said it has temporarily closed its retail stores in Ukraine out of safety concerns for customers and employees.
H&M stated that the group will continue to monitor and evaluate developments, and group representatives are in dialogue with all relevant stakeholders. In addition, the H&M Foundation has donated to Save the Children and the United Nations Refugee Agency.
Currently, the homepage of H&M Group’s Russian website already shows “temporarily closed”.
Screenshot of website homepage
This decision came suddenly. Many Russian people left messages on H&M’s vk account asking how to handle orders that have been paid but not yet delivered, and how to use coupons. Some people also joked that H&M’s operation coincided with the last few hours of discounts in the mall.
Russian people asked customers about their concerns under H&M’s vk account
The BBC reported that according to recent data, Russia is H&M’s sixth largest market, accounting for approximately 4% of the group’s sales in the fourth quarter of 2021. In addition, according to the group’s 2020 annual report, it currently has more than 150 stores in Russia, which will now be closed.
Previously, Apple and other companies also announced that they would “suspend sales” in Russia, fast-selling brands such as Nike announced that they would shut down their online businesses, and Hollywood film companies such as Disney and Warner also announced that they would suspend the release of new films in Russia.
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