Uniqlo to keep its stores in Russia open as dozens of other global chains pull out


Uniqlo.Gavriil Grigorov\TASS via .

  • Uniqlo said it will keep its 50 stores in Russia open.

  • Many of its competitors have temporarily closed stores because of the war in Ukraine.

  • Some brands had no choice but to close because of supply-chain issues.

Uniqlo is promising to keep all of its stores open in Russia as waves of other retailers retreat.

The CEO of Uniqlo parent company Fast Retailing, who is against the war in Ukraine, confirmed the brand’s decision to stay open in Russia in a statement to Asian business news site Nikkei, Bloomberg reported. Earlier this week, Fast Retailing donated $10 million to UN Refugee Agency UNHCR.

“Clothing is a necessity of life,” CEO Tadashi Yanai said, according to Bloomberg. “The people of Russia have the same right to live as we do.” A spokesperson for Fast Retailing was not immediately available for comment when contacted by Insider.

Uniqlo has 50 stores in Russia, its largest footprint in any European country.

The news comes as dozens of foreign businesses begin their retreat from Russia. This includes brands such as Nike, H&M, Zara, Adidas, and Puma, which in the past week have either shut down their online channels in Russia or closed stores in the country.

On Sunday, accounting giants PwC, KPMG, and EY also pulled out of Russia.

While some brands have chosen to take a stand against Russia’s invasion of Ukraine and purposefully limit or outright cease services there, other brands had no choice as some of the world’s biggest logistics companies suspended business in the region.

Leading freight and shipping companies such as Maersk, FedEx, UPS, and DHL have all stopped sending shipments to Russia.

A spokesman for Germany’s federal logistics association, DSLV, previously told Bloomberg that while deliveries are still being made by road, the number of companies doing so is rapidly diminishing.

Read the original article on Business Insider

Source News