Uniqlo permanently closes stores in Russia
Following Russia’s ‘military operation’ in Ukraine, the Japanese retailer was one amongst many other international companies to suspend operations in the country
Japanese retailer Uniqlo has recently announced it is leaving Russia after the suspension of its operations last year, Reuters has reported.
In March 2022, after Russia embarked on a military operation in Ukraine, Uniqlo was one of the many international companies to interrupt operations in the country.
In an official statement, Fast Retailing, which operates the company, said: “With no foreseeable prospects to resume operations, the company has closed some stores.”
It added that Uniqlo “will continue to monitor the situation closely and make decisions accordingly”.
According to Reuters, Russian Deputy Minister of Industry and Trade Viktor Yevtukhov said that the company has not yet made an application to the government, therefore there are no potential buyers yet.
Prior to the closure, Uniqlo was operating 50 stores in Russia.