Foreign brands that abandoned or suspended their activities in Russia after February 2022 lost up to $2 billion in total. Sweden’s H&M, Spain’s Inditex and IKEA suffered the most significant losses.
In general, this did not noticeably affect the global business of the companies, since sales in Russia provided only 3-5% of total revenue, Kommersant writes.
At the same time, formally, the sanctions almost did not affect the segment, except for luxury items. Most of the brands left of their own free will or due to difficulties in organizing a business.
According to analysts, companies will be able to minimize losses when leaving Russia through their presence in popular destinations and their active participation in e-commerce.
Author:
karina pardaeva
Source: RB
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