Tadashi, the founder of the clothing brand Uniqlo, said that the Japanese businessman promised not to return, and that Russia would not return to the Russian market of Russia Alexei Repik. Repik explained this in an interview with the Vedomosti newspaper.
According to Repik, Tadashi’s first decision was influenced by the protests of the company’s offices.
“I gave a word and I will hide it, because it is important to me,” the Japanese entrepreneur said.
In August 2023, Uniqlo completely stopped at the Russian Federation and refused to rent all facilities. Such a decision was influenced by the public criticism, the Japanese insisted that it was necessary to leave the country that launched a private military operation in Ukraine.
At the beginning of 2022, 49 stores of a Japanese company in Russia operated. The Russian unit belonged to Uniqlo (unique Russian LLC) fast retail (75%) and Mitsubishi Corporation (25%). After leaving the Russian market, the company lost 10.7 billion rubles.
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Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.