H&M temporarily suspends its sales in Russia

Global companies and brands around the world in a bid to show solidarity with war-torn Ukraine have been cutting ties with Russia. A few days back tech companies such Google, Dell, Amazon, Meta Limited their services in Russia. Accounting Giant KPMG also cut its business ties with some of its Russian clients. Trillion-dollar company- Apple also halted its sales in Russia and limited its services such as Apple Pay in Russia. Joining the list International fashion and clothing company H&M also suspended its sale in Russia temporarily. The Swedish company in its official statement said it stands with all the people who are suffering. Russia is the company’s sixth-largest market globally accounting for 4% of its total sales. The fashion retailer is continuously expanding its presence in Russia. Now because of the conflict between the two neighbors, it is going to shut all its 150 stores in Russia. The brand has already closed its stores in Ukraine citing security issues. Another fashion retailer Asos also said that they will not be operating in Russia anymore till this thing settles down. Asos spokesperson said on Wednesday: "Against the backdrop of the continuing war, Asos has decided that it is neither practical nor right to continue to trade in Russia."