As the war in Ukraine continues on, more companies have recently announced that they would be ceasing operations in Russia. As a result of Russians actions against Ukraine, luxury brands have also stepped up to announce they were suspending business. Those names include Hermès, Richemont, Chanel, LVMH and Kering (Gucci, Saint Laurent, Balenciaga, Bottega Veneta, etc.)
“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. We will no longer deliver into Russia, we will close our boutiques and we already suspended our e-commerce,” the fashion house shared in a post.
“Deeply concerned by the situation in Europe at this time, it’s with regret that we have taken the decision to temporarily close our stores in Russia and pause all our commercial activities from March the 4th evening,” Hermès stated on LinkedIn.