The Japanese retail group Fast Retailing Co. Ltd. has commented on the sale of the Russian business of the subsidiary Uniqlo.
Earlier this week, several media reported that the Japanese brand decided to stop operations in Russia and sell the business in the market. The parent company Fast Retailing responded to this on Wednesday with a brief statement.
In March of last year, Fast Retailing temporarily suspended operations in Russia. According to the retail group, this status will remain unchanged. Since there is no prospect of resuming business operations, the company has closed some shops at around 50 locations. Fast Retailing did not provide any details about the closures.
The group will continue to “monitor the situation closely and make appropriate decisions,” said Fast Retailing.