Inditex and Puma are also closing their stores
In the past few days, following Russia's attack on Ukraine, a number of other Western companies have announced that they will restrict their business in Russia, put it on hold or withdraw completely. “The sports company Puma has decided to temporarily suspend operations of its stores in Russia,” says a brief statement from the company headquarters in Herzogenaurach. Puma operates more than 90 stores in the country, and the sporting goods manufacturer recently reported the number of employees at over 900.
The Spanish textile group Inditex has announced that all 502 stores in Russia, including 86 Zara stores, as well as online stores will temporarily cease operations. “Under the current circumstances, Inditex cannot guarantee the continuity of operations and business conditions in the Russian Federation and is temporarily suspending its activities,” the world's largest fashion company said. Russia accounts for around 8,5 percent of the global group EBIT. There will be a special support plan for the more than 9.000 employees. The 79 branches in Ukraine had already been temporarily closed. Spain's second-largest fashion retailer Mango announced last week that it would temporarily close its 120 Russian stores.
