KYIV – Uniqlo owner Fast Retailing has U-turned on its decision to keep stores in Russia open, citing “a number of difficulties” including the worsening of the conflict with Ukraine.
Earlier this week, company chairman, president and CEO Tadashi Yanai insisted its 50 stores in Russia would remain open. He said: “Clothing is a necessity of life. The people of Russia have the same right to live as we do.”
Just days later, as Russia’s invasion goes on, he’s decided to temporarily suspend operations in the country, and said “we wish for the return of peace and stability as quickly as possible”.
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