Levi’s is finally leaving the Russian market
Levi Strauss & Co is finally leaving the Russian market after 29 years of operation. This is reported by Kommersant with reference to its own sources.
Deliveries of goods to Russia are currently suspended, the rest will be sold through other trading platforms.
According to the publication, the company plans to sell some of its Russian stores: Turkish company Fiba Holding A.Ş., which develops Gap, Marks & Spencer and Banana Republic stores in Russia. can be a buyer. At the same time, franchise stores will not be included in the agreement.
In March, the brand announced that it was suspending its activities in Russia and investments in Russian stores, against the background of Russia’s military special operations in Ukraine. Later, Chip Berg, CEO of Levi Strauss & Co, told reporters that the company does not plan to continue operating in Russia this year.
Earlier it became known that Russian stores of some brands that had previously suspended their work in the country, including Zara, will be sold and will continue to operate under new names.
Source: Spletnik
I am Anne Johnson and I work as an author at the Fashion Vibes. My main area of expertise is beauty related news, but I also have experience in covering other types of stories like entertainment, lifestyle, and health topics. With my years of experience in writing for various publications, I have built strong relationships with many industry insiders. My passion for journalism has enabled me to stay on top of the latest trends and changes in the world of beauty.
