A new store of the German hosiery brand Falke has opened in the Nevsky Center shopping center in St. Petersburg.
It is the fourth Falke store in St. Petersburg and the 25th in Russia, according to the mall’s website. However, these are not managed by the company itself, but by distribution partners who “serve the Russian market with Falke shops autonomously, independently and at their own economic risk,” confirms Falke at the request of FashionUnited.
The new location was planned and contractually fixed by local distribution partners in 2021. Falke does not know the content and scope, according to a spokeswoman.
Falke is legally required to fulfill existing delivery obligations, according to the Falke website. “We are legally bound by our existing obligations with all the legal and economic consequences for our company if these obligations are not fulfilled. Our products are everyday items and we do not expect to fall under the merchandise management restrictions imposed by the western community in the near future. We deeply regret this fact,” the company said in a statement.
Falke wants to set an example
Falke decided to “send a clear signal of our opposition to Russian action against the sovereignty and people of Ukraine,” the statement said. Therefore, the company will forego all profits from the Russian business until further notice. The profits are to be donated to aid organizations working in Ukraine. In addition, the company has donated more than 20,000 products such as underwear, clothing, socks, medicines and bandages.
Furthermore, no further investments are to be made in the partnership development of the Russian market and the country is to be removed from the list of strategic markets.