Uniqlo Exit From Russia Drives Retail Space Repurposing

Bulat Shakirov, who chairs the Association of Shopping Centers, notes that the Japanese brand Uniqlo operated around 10 stores in Russia. This figure comes amid shifts in retail space as market observers recount a change in how international brands are approaching the Russian market and what this could mean for landlords and tenants alike. DEA News reports that the brand had a larger footprint previously, with 27 stores listed in January 2023, all of which were subsequently closed. This contraction has driven property owners to rethink their strategies, with many actively pitching Uniqlo locations to both Russian and Turkish retail groups in search of viable tenants that can sustain traffic and preserve brand value in a challenging environment.