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Moscow: Russia looked completely isolated as its military operation entered 10th day in Ukraine with a host of governments sanctions and major tech and retailers shutting operations in the region. Soon after the war broke out last week, US and European tech and retail giants closed their operations across Russia. The move from the tech firms has sent scores of Russians racing to buy imported consumer goods over fears of a plunging ruble and sanctions, Mint reported.
List of companies that have shut operations in Russia:
IKEA: Last week, Swedish home-furnishing giant IKEA in a statement said it has suspended all Ikea-brand retail operations in Russia, export and import in and out of Russia and Belarus, and deliveries from sub-suppliers.
Hermes International: In the meantime, French luxury brand Hermes International also said it will temporarily close its stores in Russia and pause all commercial activities.
Mango: Spanish fashion retailer Mango also issued a statement saying it is closing its 55 company stores in Russia, suspending online sales and stopping deliveries to the country. The company has 800 employees in Russia, according to Reuters.
Apple Inc: Apple Inc recently in a statement said it has closed stores and paused product sales in Russia after Ukraine Vice Prime Minister Mykhailo pleaded with the company to pull out of Russia.
Asos Plc: Fast-fashion retailer Asos Plc also said it was halting sales in Russia. The company said it is suspending sales in Ukraine following the invasion.
Boohoo Group Plc: On the other hand, UK online clothing seller Boohoo Group Plc said it has suspended operations, while fashion house Burberry Group Plc too halted shipments to Russia.
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