Queues in Moscow to buy last pieces before H&M and Ikea leave country – Observer

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Last week in Moscow was marked by long lines that formed in many shopping centers. Following the invasion of Ukraine, customers waited long to enter the stores of Swedish chain H&M.

News organizations like Associated Press And Reuters saw queues outside H&M stores in malls such as Aviapark and Metropolis in the Russian capital. “It’s going to close, that’s why we’re here,” one customer told Reuters. “I’ll buy anything.”

The Russian market was H&M’s sixth largest market by far. The company estimates that leaving the country will cost around 200 million euros. About 6,000 employees are expected to be affected by the exit decision.

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H&M is still trying to sell its 170 stores and distribution center in Russia to Russian buyers, The Kommersant newspaper reported. But, the newspaper recalled, “there is no actor in the Russian market capable of managing such a large network and ensuring the supply of the required amount of clothing”.

And Swedish Ikea closed its stores in the country, but It is available from July 5 Yours should be available site Some Russian products. The company will continue to sell products reality “As long as Stock“.

Ikea has already publicly announced that it intends to sell four of its factories in Russia, but will close its stores and offices in the country, as well as those in Minsk, Belarus. The company confirmed that it would lay off most of its 15,000 employees in both countries, giving them six months’ wages as compensation.

Some Russians are trying to get the latest products from Western companies before they leave the country, while others are looking for a way around the system. Alexander Korbunov, an investor from Krasnoyarsk, began importing clothes from Zara, a company that left the country in March. Belo The Guardian.

Thanks to the customs union with the countries of the Eurasian Economic Union (including Armenia, Belarus, Kazakhstan and Kyrgyzstan), Russia continues to have access to a variety of goods imported from abroad, excluding companies’ trademark rights. After Zara clothes, H&M towels and Ikea furniture will be the next products to circulate in Russia.

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