Exodus from Russia: H&M opens shops to sell inventory before leaving market
Fashion retailer H&M has opened its stores in Russia for a final time to sell its inventory before leaving the country’s market.
At one Moscow shopping center, a long line of people waited to enter as H&M flung its doors open on Aug. 2.
“Well, it is closing, that’s why we are standing here,” one customer, Irina, told Reuters. “I’m going to buy whatever there is.”
“Sadly, the reason why all this is happening is awful,” said another customer, Ekaterina.
The Sweden-based retailer was one of scores of consumer brands that suspended operations in Russia after Moscow invaded Ukraine on Feb. 24.
Furniture giant Ikea reopened for an online-only sale, but H&M decided to allow customers back in person. Russia is the company’s sixth-biggest market. Exiting the country is expected to cost H&M almost ＄200 million (￥27 billion) and affect 6,000 workers. (Reuters)
20220819-02x.mp3 - Google ドライブ
