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The owner of the Reserved and Cropp brands closed its stores in Russia

The owner of the Reserved and Cropp brands closed its stores in Russia
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Tuesday, 29 March, 2022, 23:54

The Polish company LPP Group, which owns the clothing brands Reserved, Cropp, House, Mohito, Sinsay and others, closed all its stores in the Russian Federation on March 29. This is stated on the company’s website.

The company has completed the operational activities required to close stores in Russia and today closed the last of them.

Shortly before this, the LPP Group announced the termination of product deliveries, investments, network development and online sales.

The suspension of work in Russia in recent weeks was announced by Carlsberg, Pull & Bear, Heineken, IKEA, Microsoft, IBM, Shell, Starbucks, McDonald’s, Zara, H&M, Massimo Dutti, Yum! Brands, international delivery service DHL, automotive companies Porsche, Audi and BMW, the British online store ASOS, etc. Stopped sales of luxury brands Chanel, LV, Rolex, Cartier, Balenciaga. Netflix, BBC, CNN have stopped broadcasting in Russia.

The head of the Ministry of Industry and Trade of the Russian Federation, Denis Manturov, during a meeting with Russian President Vladimir Putin on March 23, assured that there would be no difficulties in buying clothes in Russia.

Foreign firms suspend their activities in Russia in connection with the introduction of anti-Russian sanctions. In particular, the European Union banned transactions with securities of the Central Bank, and the United States imposed a ban on all imports of gas and oil from the Russian Federation. In addition, the airspace of the EU and the US is closed to Russian airlines. These measures are a reaction to the start of the Russian special military operation in the Donbass.