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Experts called the number of foreign companies that left the Russian Federation

Of the foreign retailers who rented premises in Russian shopping centers, about a third (27%) decided to permanently stop their activities in the Russian Federation, experts from the consulting company CORE.XP point out.

51% of all foreign brands represented in the Russian Federation also suspended their work, another 22% are restructuring, reports “Izvestia” on Thursday, the fourth of August.

Among the companies that announced their departure: H&M Group (chains COS, Monki, Weekday, & Other Stories, H&M home, Arket), Nike, Starbucks, Victoria’s Secret, Lush, Lego. Among the brands conducting restructuring are McDonald’s (Vkusno i dot), Levi’s (JNS), L’Occitane (L’Occitane).

Inditex, Jo Malone, Decathlon, Adidas, Puma, Hugo Boss, Swarovski are on the list of companies that have suspended operations in the Russian Federation. According to experts, about 70% of the brands that have suspended their activities are doing business in the fashion segment.

In addition, against the background of the Russian special operation in Ukraine and the subsequent Western sanctions dozens of German companies left Russia or temporarily suspended their activities in the country. Among them is the German Siemens, which announced the withdrawal and termination of joint contracts with Russian Railways.

In early June, Europe’s largest insurer, Allianz Group, announced that it was leaving the Russian market. German automobile concerns BMW, Mercedes-Benz and Volkswagen, household chemicals manufacturer Henkel, software developer SAP, banks Deutsche Bank and Commerzbank left Russia.

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