The groups Ikea and H&M had announced their withdrawal from Russia because of the invasion war in Ukraine – now they are getting serious. Russians can only buy pieces of the remaining stock for a few days. Many people in Moscow flocked to the Moscow clothing chain for one last shopping spree at the popular textile discounter.
What do the companies Apple, H&M, Ikea, Obi, Nike, McDonald’s and Zara have in common? Since the outbreak of the war, they no longer want to do business in Russia with neighboring Ukraine.
Two companies are now making a big sale to get rid of the remaining items in stock. Ikea only sells the remaining stock online, at H&M you can shop in the stores for a few more days. Many Russians seize this last chance to get their hands on a few more garments from the Swedish textile giant.
6,000 H&M employees lose their jobs
With the closure of all H&M stores, 6,000 employees have been laid off. Ikea expects a financial loss of almost 200 million dollars (about 196 million euros) due to its withdrawal from Russia.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
