Fashion brand Mango will finally leave Russia
Spanish fashion retailer Mango will finally leave Russia. It is reported by El Pais with reference to the company’s statement.
It is noted that the brand decided to abandon direct sales in the domestic market after 23 years of work in the country “due to the uncertainty regarding the development of the geopolitical situation” due to Russia’s special military operation in Ukraine. At the same time, the brand will sell the business to franchise partners with whom it has already reached an agreement on this issue.
It is known that under the franchise agreement 55 brand stores in Russia will be transferred, which will save jobs for 800 employees.
In March, Mango announced that it was temporarily halting online and offline sales in Russia. “Due to the current difficulties associated with transportation and supply, Mango cannot guarantee the support of its activities in Russia. In this regard, Mango temporarily stops its work in this country, ”the official website of the brand said.
Earlier it was reported that the German clothing manufacturer Hugo Boss will stop working in Russia for an indefinite period. The same decision was announced by the Spanish retail company Inditex, which includes mass-market brands Zara, Bershka, Pull & Bear, Oysho, Massimo Dutti and other brands. Inditex has completely closed shops and online sales of goods in the country.
In addition, in March, foreign retail platforms Net-a-Porter, Mr Porter, Yoox and The Outnet also announced the suspension of sales of products to Russian buyers. The fashion brands Hermes, Louis Vuitton, Mango, Asos, Nike, as well as Adidas, Puma and other large companies did the same.