Everyone reacted differently when one after another foreign brands began to cease their activities in Russia. Someone deleted the keys on the keyboard, updated the IKEA website in the hope of ordering that unfortunate dresser, someone cut socks from Uniqlo as a sign of solidarity with local brands, and started calculating how much foreign companies would lose after one left. Russian market. So, according to colleagues from Kommersant, foreign manufacturers lost about $ 800 million (47.5 billion rubles). And this is not the limit. If retailers are unable to sell the remaining goods and successfully solve the problem of terminating existing long-term contracts to rent retail space, the amount will be much higher.
Inditex (Zara, Massimo Dutti, Bershka, Stradivarius, Pull & Bear, etc.) may have the largest losses if they leave Russia – about 18 billion rubles. Next on the list is H&M with losses of 12 billion, followed by IKEA – 11.5 billion, Uniqlo – 9-10 billion rubles, and about the same amount for Decathlon.
Revenue from the Russian market of other companies leaving for 2020 exceeded 115.6 billion rubles. Thus, two years ago, Philip Morris International’s revenue amounted to 21 billion, Volkswagen Group – 20 billion, and Apple – 15 billion rubles. See the infographic below for more information.
And although some companies are still in uncertainty and have not made a final decision on leaving the Russian market, the picture is already starting to become clear. In addition to billions of revenue, businesses will lose hundreds of thousands of jobs. And about what employees of foreign companies in Russia think about it, read our material.
Source: People Talk
