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H&M retailer closes more than 40% of stores in Russia

Russia Materials 4 October 2022 14:40 (UTC +04:00)
H&M retailer closes more than 40% of stores in Russia

H&M retailer, which previously opened stores in Russia to sell remaining goods, has closed 42 out of 98 H&M brand stores since September, the company’s press service told TASS, Trend reports.

"Starting from September, the phased closure of H&M Group stores in Russia continues. To date, October 4, 42 stores in 23 Russian cities have been closed," a representative of the press service said.

H&M announced earlier the decision to gradually wind down operations in Russia. H&M, Europe's largest clothing and accessories retail chain has been operating in Russia since 2009.

The company decided to temporarily open stores to sell the remaining goods. As previously reported in the company's press service, in order to sell stock 118 stores were opened under the following brands: H&M (98), Cos (4), Other Stories (3), Weekday (2), Monki (11).

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