H&M begins ‘winding down’ operations in Russia

20170524 104609 ALM 0771Following its decision to pause all sales in Russia, as announced on 2 March, the Sweden-based H&M Group has now said it will be taking steps to wind down its business in the country, citing “operational challenges and an unpredictable future”.

The move is expected to cost almost US$200m and affect 6,000 staff as it joins a growing number of companies fully exiting the country.

For the full story, see the August 2022 edition of Textiles Eastern Europe.


Photo: H&M