Leading Luxury Brand Suspend Sales in Russia

The world's leading luxury brands are closing their stores in Russia.

According to Reuters, such a step was first taken by Birkin bag manufacturer Hermes and Cartier owner Richemont. LVMH (LVMH.PA), Kering (PRTP.PA), and Chanel also decided to close their stores in the aggressor country.

For reference, the giant company LVMH owns brands such as Christian Dior, Givenchy, Kenzo, TAG Heuer and Bulgari. It will close its 124 boutiques in Russia from Sunday. However, in an interview with Reuters, a company spokesman explained that 3,500 employees would still be paid salaries.

Last 7 Days Hot Topic

Business

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

Economy

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Economy

Leading Luxury Brand Suspend Sales in Russia

Last 7 Days Hot Topic

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
03

Georgia Sees Surge in Electric Vehicle Registrations
04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
05

Levan Lepsveridze Joins Jury at Cannes International Festival
06

Categories

Pages

Leading Luxury Brand Suspend Sales in Russia

Last 7 Days Hot Topic

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine 01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC 02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul 03

Georgia Sees Surge in Electric Vehicle Registrations 04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path 05

Levan Lepsveridze Joins Jury at Cannes International Festival 06

Japanese Cafe Fumfula Expands in Tbilisi Amid Rising Popularity of Asian Cuisine
01

With the support of the International Visegrad Fund (IVF), a meeting was held in the city of Zugdidi within the framework of the ongoing project at the Energy Training Center of GNERC
02

Georgia-Korea Investment Promotion and Protection Talks Advance in Seoul
03

Georgia Sees Surge in Electric Vehicle Registrations
04

The EU Urges Georgia to Refrain from Adopting Legislation that can Compromise Georgia’s EU Path
05

Levan Lepsveridze Joins Jury at Cannes International Festival
06