Swarovski completely reduced its activities in Russia and exited the market. This was stated by the head of the company Alexis Nasard. According to analysts for 2021, Swarovski ranked sixth in the list of the most beloved brands of Russians.
The Austrian jewelry company Swarovski has fully completed the reduction of activities in Russia. This was written by the Kleine Zeitung with reference to the statement by Swarovski boss Alexis Nasard.
Swarovski announced plans to exit the Russian market in March 2023. The company’s CEO then said that “the time has come to end the dormant stay” in Russia. He also clarified that the stoppage of business will be carried out in accordance with the laws and economic sanctions.
As of February 2022, there were 12 Swarovski stores in Russia. This brand in 2021 took the sixth line in the list of favorite brands of Russians, Online Market Intelligence reported.
Author:
Kirill Bilyk
Source: RB
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