Stop Doing
Business with Russia
Russia initiated aggression against Ukraine in 2014. On February 24, 2022, it started a full-scale military invasion to the Ukrainian territory. This brutal war and military crimes of Russian troops caused a humanitarian crisis in Ukraine with thousands civilians killed and millions becoming refuges. As a reaction to this act of aggression, many international companies decided to leave the Russian market, while some others continue doing business there as usual. We track such decisions of companies and urge them to stop funding the war.
Hold off investments: company postponing future planned investment/development/marketing while continuing substantive business
Pausing InvestmentsReducing Activities: company scaling back some business operations while continuing others
Scaling BackPause operations: company temporarily curtailing operations while keeping return options open
SuspensionClean Break: the company completely halting Russian engagements or exiting Russia
WithdrawalExit Completed: company sold its business/assets or its part of the business to a local partner and leaved the market or liquidated local entity(ies)
Exit Completed
Exit Russian market completely. LLC was sold to a local legal entity. The first hypermarket of the German DIY chain OBI will open in Myakinino near Moscow on the site of the burnt-out Sindika market. The OBI retail chain may come under the control of Mordashov's Severgroup structures.
17.05.2022: The record about the founder JOINT-STOCK COMPANY "CERSANIT" has been deleted. SANGRE INTERNATIONAL LTD becomes the new founder of the organization. 26.04.2022: Financial statements for 2021 have been submitted
Received revenues in Russia in 2022-2023. The Austrian owners of the Selgros retail chain have managed to find a buyer for the Russian business. It could be a food supplier, the Arosa Group, co-owned by Rustem Mirgalimov, whose business interests are concentrated in the agricultural industry. In addition, the deal will include the distributor Global Foods, also owned by the owners of Selgros. The value of the retailer's assets in the Russian Federation reaches 40 billion rubles, but in the event of their sale, it will have to agree to a discount of 35-40%. 09.12.2024: AROSA-LOGISTICS LLC becomes the new founder of the organization. The entry about the founder of MCCR BETAILIGUNGS GMBH has been removed from the Unified State Register of Legal Entities.
Promised to suspend retail business operation, e-commerce and close the stores. Made a donation to Red Cross but later there were proofs found that the company is continuing to sell its goods in Russia and "HUGO BOSS RUS" LLC is still active and received revenues in 2021-2022. Company HUGO BOSS RUS receives plenty of direct shipments from Hugo Boss AG as of March 31, 2023, based on the Russian customs data. A lot of transactions ~18k in a year. Promised to suspend retail business operation, e-commerce and close the stores. Stockmann became the buyer of the Russian business of the German clothing manufacturer Hugo Boss, which included 19 stores in Russia at the end of 2022. The deal, according to experts, could cost 800 million rubles, taking into account all the discounts. with a market value of the business of 1.8 billion rubles. Hugo Boss sold Russian business to wholesale partner Stockmann. "We can confirm that our Russian subsidiary has been sold to Stockmann JSC – a company belonging to one of Hugo Boss's long-standing wholesale partners in the country," Hugo Boss said. Neither party has disclosed financial terms of the deal, but Russia demands that foreign companies sell assets at discounts of at least 50%. Stockmann did not respond immediately to a request for comment. Russian corporate filings showed that the deal closed on Aug. 2 and that Stockmann JSC now owns 100% of Hugo Boss Rus with a nominal value of 40 million roubles ($470,588). Hugo Boss appears to be back, with two stores recently opened in the sprawling Evropeyskyi shopping center near Kyivskyi Station in Moscow, and more are said to be on the way. Despite the closure of outlets since the start of the war, B4Ukraine, a coalition calling on Western companies to sever ties with Russia, criticized Hugo Boss for continuing wholesale deliveries. This meant that the Russians were never truly without their beloved Boss. The firm said in a statement that it is "no longer present in Russia with its own legal entity", explaining that the reopened stores are managed by a former wholesale partner who bought the Russian subsidiary of Hugo Boss.
Received revenues in Russia in 2021-2023 but suspened of the Jack Wolfskin retail business in Russia due to the Russia-Ukraine War. 05.2024: Legal entity LLC "JACK WOLFSKIN RUS" was liquidated on May 6, 2024.
Received revenues in Russia in 2021-2022, there is no any official announcement. 29.11.2023: The legal entity was liquidated.
Received revenues in Russia in 2021-2022, there is no any official announcement. 29.11.2023: The legal entity was liquidated.
Gerry Weber confirms sale of its Russian business and is liquidating its local entity. The legal successor of the representative office of the German clothing brand Gerry Weber in Russia, LiM Holding, having terminated the commission agreement with its largest distributor in the country, Smart Causal, is demanding through the court the return of almost 1 billion rubles in inventory balances stuck with the counterparty's structures. 24.06.2024: The legal entity GERRY WEBER RUS LLC was liquidated.
Discontinued business activities. 29.11.2023: The legal entity was liquidated.