Fashion Retailer H&M Is Leaving Russia Completely

The Swedish fashion retailer H&M Group officially announced that it had decided to start the process of winding up its business in Russia.

“After careful consideration, we see it as impossible given the current situation to continue our business in Russia. We are deeply saddened about the impact this will have on our colleagues and very grateful for all their hard work and dedication. Furthermore, we wish to thank our customers for their support throughout the years”, says Helena Helmersson, CEO H&M Group.

On March 2, the company published a statement about pausing all sales in Russia. H&M Group has been operating in Russia since 2009.

As part of the wind-down process, H&M plans to temporarily open physical stores for a limited period to sell off remaining inventory in Russia.