H&M and its regional strategy after Russia exit
Swedish fashion retailer Hennes & Mauritz, better known as H&M, has chosen to retain the office dedicated to business development for Russia, Belarus, and Kazakhstan. This decision comes despite the company’s recent withdrawal from the Russian market. The information is reported by Inch, quoting company staff.
Plans are in motion for three new H&M stores to open in Belarus in the near term. In contrast, operations in Kazakhstan are expected to continue, with seven existing points of sale remaining active. This approach signals a staged approach to the region, balancing market presence with the changes stemming from the Russian exit.
Lana Yakhontova, the company’s director of sustainable development, clarified the stance: the business will keep a footprint in Kazakhstan and will focus on shaping processes for the market as it adjusts after the shutdown in Russia. She noted that the three Belarusian stores will operate temporarily as the company monitors evolving conditions in the region.
H&M formally announced the end of its Russian business on July 18, a major strategic move for the retailer. Subsequently, rumors circulated that stores in Russia would reopen for sales in August, though official confirmation was not provided at that time. Market observers in the region continue to track the timeline and regulatory developments that could influence any restart decisions.
Earlier reporting from socialbites.ca highlighted consumer guidance around handling purchases and returns during these transitional periods, with the emphasis on customer service and product quality. Market watchers in North America are watching how H&M adapts its store network and supply chain to the new regional reality, which may influence broader regional strategies for multinational retailers facing geopolitical shifts. [citation]