The Swedish retailer H&M has closed all its stores in Russia, SIA refers to the Izvestia's report on the issue.
The brand representatives have confirmed the closure of all stores. A total of 172 sales points of the retail company operated in Russia before the closure. As a result, at least 3 personnel from each store will be unemployed.
Back in July, H&M announced the suspension of its business in Russia due to operational problems and unstable political situation. Helena Helmersson, CEO of H&M Group, thanked the Russian employees for their hard work.
In November, Russia announced that H&M will be replaced by local brand stores.
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