Few visitors pass inside the GUM department store with lots of boutiques closed due to sanctions in Moscow, Russia, Wednesday, June 1, 2022. As Russia's military operation in Ukraine is entering its 100-day anniversary, life in Moscow and St. Petersburg remains largely normal, even as many Western retailers have left Russia
* Dozens of foreign and international companies have withdrawn from Russia since Putin invaded Ukraine
* Popular brands, including Louis Vuitton, Dior, Zara, Coca-Cola, Pepsi and Starbucks sit empty on high streets
* The changes have been prompted by Western sanctions and unprecedented pullout of Western businesses
Western brands have pulled out of Russia leaving shopping malls in Moscow and St Petersburg to become 'ghost towns' with high street locations sitting empty.
Brands including Louis Vuitton, Dior and Zara have shut in protest over war in Ukraine which began on February 24.
The changes have been prompted by Western sanctions and a massive, unprecedented pullout of Western businesses that had become entrenched in the landscape of Russia's daily life over three decades.
Read more ....
WNU Editor: My friends and family in Russia tell me that the stores are stocked, but Western brands are now non-existent.
More News On Russian Sanctions
Sanctions Deal Russian Consumer Economy Worst Hit Since Pandemic -- Bloomberg
Russian Shoppers Face Shrinking Options on Store Shelves – BBC -- Moscow Times
Russia braces for economic upheaval as sanctions start to bite -- France 24
'Everything is gone': Russian business hit hard by tech sanctions -- Ars Technica/Financial Times
In Russian Business Daily, Defense Companies Admit Major Difficulties Due To Sanctions -- Memri
AP PHOTOS: Russian malls half-empty after Western firms exit -- AP
No comments:
Post a Comment