US media: Swedish clothing brand H&M announced that it will suspend all sales in Russia
According to the New York Times, on March 2, local time, Swedish clothing brand H&M announced that it would suspend all sales in Russia. “The H&M Group is deeply concerned about the tragic situation in Ukraine and stands with all those who are suffering,” the group said in a statement.
H&M Group also stated that for the safety of customers and employees, they have temporarily closed their stores in Ukraine.
Nike suspends Russian e-commerce services
Sportswear giant Nike recently announced the suspension of e-commerce services in Russia, including its official website and App, because the brand cannot guarantee the delivery of products to consumers in the country on time.
Some analysts predict that this move may have a certain impact on Nike’s performance.
Williams Trading analyst Sam Poser also pointed out in a previous report that due to the shutdown of the supply chain in Vietnam last year, Nike also faced the challenge of large-scale delays in the launch of new products in the first quarter, and its performance may suffer a serious decline.
adidas suspends cooperation with Russian Football Federation
An Adidas spokesman said on Tuesday that the group had suspended its partnership with the Russian Football League RFS with immediate effect, but did not announce further details.
Data show that adidas’s third-quarter sales increased by 3% year-on-year to 5.326 billion euros, a significant slowdown from the 52% growth in the previous quarter, mainly affected by the second consecutive quarter of decline in Greater China, a decline of 15%, in EMEA , North America and Latin America all achieved double-digit growth.
LOOK stops cooperation with Russian professional team
After the UCI issued a resolution banning Russian and Belarusian teams from participating in the competition, another brand issued a similar announcement. Among them, LOOK also announced the termination of its sponsorship cooperation with the Russian UCI professional team Gazprom-RusVelo team.
LOOK stated that their purpose is to support peace, because sports are activities that unite the country, so the brand will continue to support athletes around the world. However, due to the recent conflict between Russia and Ukraine, LOOK, including its wheel brand CORIMA, decided to stop supporting Gazprom – Technical support and cooperation from RusVelo Racing Team.
More large companies announce they will stop trading with Russia
Technology giant Apple has stopped selling mobile phones and other products in Russia; Google has removed Russian state-run media from its news platform; automaker Ford has notified its manufacturing partners in Russia that it will suspend operations in Russia; motorcycle manufacturers Harley-Davidson has also suspended operations in Russia.
In addition, the world’s two largest shipping companies, Mediterranean Shipping Company (MSC) and Maersk, announced the suspension of container transportation in and out of Russia.
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