H&M stores opened in Moscow for the first time since the start of the war - for the final sale of goods before leaving Russia

H&M stores opened in Moscow for the first time since the start of the war – for the final sale of goods before leaving Russia

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Stores of the clothing chain H&M, which announced its withdrawal from the Russian market, opened in Moscow to sell the remaining goods. Telegram channels Shot and Mash published videos taken at the opening of H&M in the Metropolis shopping center, the project “Caution, news” posted photo from the network store in the Aviapark shopping center.

Mash points out that the cost of goods at H&M differs from prices before the stores were closed in February.

The H&M group, which includes Monki, Weekday, Cos, Other Stories and Cheap Monday, closed its stores in Russia after the outbreak of war in Ukraine, and on July 18 announced that it would leave the country.

The company decided to open several of its stores in August in order to sell the remaining goods (at data Mash, the goods will be enough for 50 weeks of work). At the same time, the online store will not resume work, and there will be no sales. An H&M store is expected to open in the Galeria shopping center in St. Petersburg on August 3.

“Kommersant” wrotethat H&M put up for sale its assets in Russia. A source familiar with the offer said the assets included a portfolio of leasehold rights to about 170 stores in 65 Russian cities, a 57,700-square-meter distribution center, and a 30-week stock of goods with an estimated value of $210 million.

By assessment Yale University, after the start of the Russian invasion of Ukraine, more than 1,200 foreign companies announced that they would leave Russia or restrict their activities in the country.

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Source: meduza.io

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