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One of the largest online retailers of designer clothing Farfetch is closing its Russian office and laying off all of its employees. This is reported by The Blueprint, citing sources. Farfetch launched in Russia in 2015. The marketplace operated under a model in which it does not purchase merchandise, but
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At the beginning of November, it became known that EPAM has signed an agreement for the sale of assets in Russia to a third party. It was stated in a new report [https://investors.epam.com/static-files/c9054fab-95f0-4e94-95f4-ca13ec386226] for the U.S. Securities and Exchange Commission. EPAM did not name
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International payment system Payoneer is suspending operations in Russia, Russian media outlets report, with reference to an email received by Russian clients. The company suspended its activities in Russian Federation in March 2022 and closed the registration of new accounts. Now, all customer accounts in Russia will be closed by
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Outerwear and sportswear manufacturer Helly Hansen has decided to wind down its business in the Russian Federation. According to Vedomosti, at the end of August, the new owners of Helly Hansen LLC instead of Helly Hansen Russia AS became its top managers – CEO Igor Roganovich and lawyer Andrey Karasev. The
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Kaspersky Lab announced that its VPN application Kaspersky VPN Secure Connection will no longer work in Russia. VPN will disappear from various complex products that Kaspersky Lab offers in Russia. In other countries Kaspersky Secure Connection will continue to operate as it is. The product will be discontinued in Russia
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German company Mercedes-Benz decided to exit the Russian market. The manufacturer will sell its shares in Russian local subsidiaries, Russian media report. The shares will be transferred to the Avtodom dealer network. The relevant authorities must still approve the completion of the transaction. The company stopped export and production of
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Swedish company Volvo Group is considering options to exit the Russian market. The company plans to fully or partially sell its business, Russian media Vedomosti reports. Volvo Group stopped production in Russia at the end of February, when Russia invaded Ukraine. It is expected that the deal may be concluded
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French food company Danone announced its exit from the Russian market. The company stressed that they decided to transfer control over their business in Russia, according to a press release [https://www.danone.com/content/dam/danone-corp/danone-com/medias/medias-en/2022/corporatepressreleases/Danone_PR_141022.pdf] . On October 14, the
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Japanese automaker Mazda Motor Corporation has decided to terminate its activities in Russia and transfer its share in the joint venture in Vladivostok to Sollers Auto, according to a statement from the concern. The company suspended operations in Russia earlier this year over Russian invasion of Ukraine.
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Ford Motor Company has left the Russian market – the automaker sold its stake in the joint venture Sollers Ford, Reuters reports. The company's shares are planned to be transferred to the joint venture for a nominal price. Ford Motor Company stopped operations in Russia back in March. The
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Dutch telecom operator Veon Ltd – the owner of the Russian operator Beeline – intends to sell its assets in Russia. This was reported by Reuters. The company said that it is conducting the process of selling the business under the Beeline brand, which is the second largest mobile network in Russia.
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Zara and Bershka have finally given up selling their clothes in Russia, Russian media Izvestia has learned. Although Inditex brands were transferred to Daher group after the sale, the clothes of these brands will still not be sold even under other names.