STOCKHOLM – Swedish fashion giant H&M has announced that it is to temporarily reopen its physical stores in Russia to sell off remaining stock before withdrawing from the country for the foreseeable future.
H&M suspended all sales to Russia following the military invasion of Ukraine back in March but says that it will now begin “winding down” its business in the country because of the “current operational challenges and an unpredictable future”.
However, in a statement, it said: “As part of the winding down process, the intention is to temporarily reopen physical stores for a limited period of time to sell remaining inventory in Russia.”
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