Adidas and PVH are among the latest companies to close stores and suspend business operations in Russia, joining a growing list of Western companies suspending operations in the country following its invasion of Ukraine. Estée Lauder Companies, which suspended business investments in Russia last week, has now also closed live-operated stores, brand websites and deliveries to Russian retailers, the company said in a statement. All three companies said their Russian employees would continue to receive compensation.
Elsewhere, Procter & Gamble, which counts beauty names SKII and Olay among its stable of brands, is “significantly reducing our product portfolio to focus on basic health, hygiene and personal care items needed by many Russian families who depend on it in their daily lives”. lives,” Chairman and CEO Jon Moeller said in a letter to employees posted on the company’s website. The company also halted all new capital investment and suspended media and advertising activities in the country, he said.
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The Uniqlo owner has said it will continue to operate in Russia, even international pressure in response to the country’s invasion of Ukraine is seeing waves of companies pulling out.