The list of global fashion companies pulling out of Russia due to the invasion of Ukraine grows by the hour. On Monday, the US clothing retailer Levi Strauss & Co. also announced corresponding measures: “In view of the enormous unrest in the region, which makes normal business operations impossible, LS & Co. is temporarily suspending its business activities in Russia, including all new investments “, explained the denim specialist in a statement. The company is also committed to “supporting its employees and partners affected by this decision and their families over the coming months.”
The step has significant financial consequences for the clothing supplier: according to its own statements, it generated around four percent of its total sales in Eastern Europe last year and half of it in Russia. However, all business considerations are “of course secondary to the human suffering that so many are currently enduring,” the company said in a statement.
At the same time, Levi Strauss announced that he would donate a total of more than 300,000 US dollars – more than 274,000 euros – to nonprofit organizations that support people affected by the current conflict. In addition, the company and its license partners are currently working to provide jackets, backpacks and warm clothing for people who have had to flee their homes, according to a statement.