The owner of the Vans brands, The North Face -VF Corporation- has decided to close its stores in Russia. It is planned to transfer the local division to wholesale deliveries. This will help reduce geopolitical risks and store costs.
In the spring, VF CIA received the first declaration of conformity in 2023 for clothing from The North Face, Vans, Napapijri, Dickies, Disney and Timberland, according to data from Rosaccreditation.
The supplier is Swiss VF International SAGL, and the production sites are companies in Japan, China, Bangladesh, Malaysia, Vietnam, and EU countries. These brands are not subject to the European Union sanctions that prohibit the supply of clothing to the Russian Federation for more than €300 per unit of merchandise.
- Since March 2022, more than 20 clothing and shoe companies have suspended or completely stopped their work in Russia. Many began selling off Russian assets, and the new owners began renaming the stores. For example, Inditex sold its assets to the Daher Group. The latter decided to sell things of the brands of the Spanish company under other names.
- Now, Turkey’s FLO Retailing and the Middle East Daher Group are negotiating the purchase of the Russian network Adidas with a German company. The deal is expected to close in the fall.
Author:
karina pardaeva
Source: RB
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