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
French luxury group LVMH "temporarily" closed its 124 stores in Russia.
Received revenues in Russia in 2021-2022, there is no any official announcement. Luxury international brands, which suspended operations in Russia after the start of the military conflict in Ukraine and initially took a wait-and-see attitude, are beginning to get rid of their stores. Italian Prada and Fendi followed the same path. It is simply unprofitable for retailers to rent space under non-working stores for a long time. Italian Fendi reported in a report that it refused to rent three premises in Moscow. At the same time, as follows from the materials of "Fendi Ru", the contract for the lease of the boutique in the Center is still valid, but it is planned to be terminated from August 1, 2024. Revenue decreased in 2024 vs 2023 by more than -20%.
Pausing operations in Russia. (Nine stores in Russia)
Suspended all business with Russia. Suspension affects wholesale shipments, e-commerce shipments, and all future orders.
Suspended all shipments to and production for Russia partners.
Tapestry, (whose brands are Coach, Kate Spade and Stuart Weitzman), said in an email that it has no “direct business” in Russia or Ukraine and announced a $100,000 donation to the United Nations Refugee Agency, also known as the UNHCR; Kate Spade’s foundation also donated $25,000 to a nonprofit organization helping displaced Ukrainian families. The latest export deliveries to Russia were done in November 2021 (to LLC "ICH TRADE") and June 2021 (to JSC "BNS GROUP").
The Russian fashion market may be left by the distributor Retail Story, which supplied products of the American brand Tommy Hilfiger to the Russian Federation, in particular. Until 2023, Retail Story supplied products of the American clothing brand Tommy Hilfiger to the Russian market. In March 2022, Tommy Hilfiger announced the closure of its stores in the Russian Federation. In September 2023, the American Phillips-Van Heusen Corporation, which owns the Tommy Hilfiger and Calvin Klein brands, transferred the local division to top manager Denis Shchukin. The company was renamed Retail Excellence. Tommy Hilfiger in Russia is also being developed under a franchise by the distributor BNS Group. According to its own data, this company manages 11 Tommy Hilfiger stores in Russia under the TH and TH Legend brands.