The Swedish company that has establishments in Europe, Orient Next, Asia, Africa and Latam and that it is at present the second textile giant of the world, adds to the list (that it increases progressively) of companies that cease his activities in the Russian country. H&M, to the equal that Sephora, kept close down all his establishments and points of sale in Russia from the first week of the attempt of invasion of Russia to Ukraine.
"After considering it warily, and seeing the current situation of Russia, makes us impossible continue with our business in Russia" signalled Helena Helmersson, Chief Executive of the company. Russia supposed for H&M the sixth market with more volume of sales for the company and possessed more than 150 points of sale in the country. Helmersson Valued negatively the impact that will generate to economic and labour level in Russia, since the company gives employment to some 6.000 people: "it saddens Us the impact that will have our decision in our workers."
The cost of the settlement of his business in the Russian country estimates that wonder around the 2.000 million Swedish crowns, what mean 191,3 million dollars, that will include and will see reflected in the balance of accounts of the third quarter. This cessation of activity by part of the Swedish giant will affect also to his on-line activity.