H&M Set To Exit Russia

H&M, the multinational clothing company based in Sweden, has announced it is leaving Russia but will temporarily reopen its shops there to sell off its remaining stock.

The world’s second-biggest clothing retailer said it was “impossible” to continue its business in Russia due to the Ukraine war.

The decision comes after the Swedish firm suspended all sales in Russia in March, shortly after Russian troops invaded Ukraine in late February.

H&M is understood to have more than 150 stores and about 6,000 staff in Russia.

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Edited by Jesus Chan

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