Following the Swedish H&M example, if the Russian stores of all foreign clothing retailers were to close, their total losses would be $760-800 million. “Kommersan” With reference to audit companies.
The publication notes that, according to its calculations, the Spanish company Inditex, which owns the Zara chain, Massimo Dutti, Bershka, Stradivarius and Pull & Bear may suffer the greatest losses. They will lose about 300 million dollars Japanese company Uniqlo may suffer a loss of 150-170 million dollars, which is about the same as the French sporting goods chain Decathlon.
All these companies have closed their stores in the Russian Federation, but have not yet announced their final withdrawal from the Russian market.
According to Statista for 2020, sales in Russia were 1.3% for Uniqlo’s total revenue share, 4% for H&M and 8.5% for Inditex.
One of the interlocutors of the publication claims that the total loss of $ 760-800 million is “conservative”. It could be higher if retailers are unable to sell the remaining merchandise and successfully resolve the issue of breaking existing long-term agreements to lease retail space.
Previously, it was known that the Swedish Hennes & Mauritz (H&M) before it left the Russian market. to organise sales.