Newspaper “Kommersant”He calculated, based on consultants’ estimates, that foreign consumer brands that suspend or temporarily suspend their business in Russia following the start of a special military operation could lose up to $2 billion in total.
The publication reported that foreign brands received less than $1.3 to $1.5 billion. However, the amount could reach $2 billion, given the temporarily downed stores of the chains that have not announced their departure.
“The most tangible losses are in Swedish H&M, Spanish Inditex (brands Zara, Bershka, Massimo Dutti and others) and IKEA,” said Ruslan Petruchak, BGP Litigation’s dispute resolution and bankruptcy enforcement advisor. According to his calculations, these brands are worth more than a billion dollars.
Previously, the TASS agency, citing data from analysts at the consulting firm CORE.XP, wrote that in the first quarter of 2023, the share of vacant space in Moscow shopping centers. reached The highest figure in the last ten years reached 14%.