News In Brief World News
News In Brief World News

French designer brands suspend their sales in Russia

Share Us

766
French designer brands suspend their sales in Russia
05 Mar 2022
6 min read

News Synopsis

Several companies and brands around the world  have decided to express solidarity to Ukraine and to economically restrain its invader- Russia. They have announced to shut down their sales and operations in Russia. Movie Production houses, Sony, Disney, etc halted their movie release in the country. Tech companies such as Google, Dell, etc restricted their services in the country. Apple Incorporation also paused its sales and limited its services such as Apple pay in Russia. Joining the list, French luxury fashion designer brands LVMH, Hermes, Kering, and Chanel, announced that they have decided to shut their operation in Russia amid the ongoing conflict between the two neighbors. Chanel in their LinkedIn post said: "Given our increasing concerns about the current situation, the growing uncertainty, and the complexity to operate, Chanel decided to temporarily pause its business in Russia." LVMH has closed its 124 stores in the country. Kering because of "growing concerns regarding the current situation in Europe", has decided to shut its operations in Russia. Social media giant Meta has also announced several restrictions on the Russian state backed media. It has also pledged $15 million in humanitarian aid to Ukraine.