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French designer giants suspend sales in Russia
Tuesday, 15 March 2022 - 21:30 | Views - 212

French luxury giants have joined other firms in announcing they will suspend sales in Russia amid the ongoing war in Ukraine.

 

LVMH, Hermes, Kering and Chanel have decided to temporarily shut their shops in Russia, the firms said on Friday.

 

It follows calls from Ukrainian high-end stores to "stand up" following the invasion of the country.

 

Luxury retailers have so far largely been left out of sanctions introduced by Western governments.

 

But many have found doing business and fulfilling orders in the region more difficult, after measures introduced by the UK, European Union and US.

 

The maker of pricey Birkin bags Hermes and the Swiss Cartier owner Richemont were among the first firms to announce that they would pause business in Russia.

 

LVMH, which owns such brands as Christian Dior, Givenchy and Bulgari among others, will close its 124 boutiques in the country from Sunday.

 

Chanel, famous for its boucle jackets, said in a LinkedIn post: "Given our increasing concerns about the current situation, the growing uncertainty and the complexity to operate, Chanel decided to temporarily pause its business in Russia."

 

Kering, which is home to Gucci and Saint Laurent, has two shops in Russia, along with 180 employees in the country.

 

The French firm said its decision was due to "growing concerns regarding the current situation in Europe".

 

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