Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling Back
OVS is an Italian clothing company. It has stores in 35 countries in Europe, Latin America and Asia with a total of about 1285 locations. Revenues were €1.32 billion in 2015. It is the largest clothing retailer in Italy, accounting for about 5% of the national clothing retail market.
Reducing Activities: company scaling back some business operations while continuing others
Stay Scaling BackSeveral brands that "import-substituted" companies that left the Russian market in 2023 are now downsizing their store networks. Italian brands OVS and Replay are also downsizing. All of them are also experiencing modest financial results.
While some western retailers left the Russian market due to the military conflict between the Russian Federation and Ukraine, the Italian clothing chain OVS, on the contrary, decided to return to the country. The brand opens its first stores in another period of turbulence in the ruble exchange rate, although it was for this reason that it left the Russian Federation nine years ago.
| December 26, 2025 | Foreign brands that arrived after the war began to leave Russia |