Burberry, H&M scale back Russia business after invasion

Burberry, H&M scale back Russia business after invasion

Bloomberg: Fashion retailers Hennes & Mauritz AB, Burberry Group Plc and Boohoo Group Plc are curtailing operations in Russia after its invasion of Ukraine, with the Swedish clothing chain expressing concern about “tragic developments” there.

H&M is pausing all sales in Russia after shutting stores in Ukraine for safety reasons, it said late Wednesday. Burberry has halted shipments to the country until further notice due to “operational challenges,” according to a spokesman. The UK luxury brand has two stores and one concession in Russia, which have remained open for now.

Fashion companies are taking divergent approaches a week after the Russian invasion, with consumer brands like Nike Inc. and H&M swiftly curtailing business while others from Bulgari SpA to Richemont continue to sell their wares.