Fashion brand #Marks&Spencer has suspended sales in Russia

British fashion retailer Marks & Spencer has announced that it is temporarily halting sales in Russia. This is reported Interfax.

“M&S is suspending deliveries for the Russian business of the Turkish franchisee,” the company said in a statement.

According to the material, the owner of Marka Rus LLC (the operator of Marks & Spencer brand stores in the Russian Federation) is Retail International Holding BV, registered in the Netherlands, and two individuals, one of whom is a Turkish citizen. The revenue of Mark Rus in 2020 amounted to 386 million rubles of net profit.

Earlier in March, it became known that the Spanish retailer Mango was suspending operations in Russia due to the situation in Ukraine. The company noted that due to the current difficulties associated with transportation and supplies, the company cannot guarantee the provision of its activities on the territory of the Russian Federation.

Foreign retail platforms Net-a-Porter, Mr Porter, Yoox and The Outnet also announced the suspension of sales of products to Russian buyers. A similar situation occurred with the companies Swarovski, Hermes, Asos, IKEA, Nike.