Fashion houses continue to close their boutiques in Russia amid a special operation in Ukraine and subsequent sanctions
The French group of companies LVMH, which includes the largest luxury fashion houses, will temporarily close 124 stores in Russia, a company representative said, AFP reports.
Boutiques will suspend operations from March 6 due to “circumstances in the region,” LVMH said.
The group owns 75 fashion houses. Among the assets are the production of Moët & Chandon champagne and the fashion house Christian Dior. LVMH’s global turnover for 2021 was €64.2 billion, should from the data on the site.
Military operation in Ukraine. Online
On the eve of the page of the largest brand LVMH Louis Vuitton in Instagram there was an entry with the support of Ukrainians. The fashion house has donated €1 million to UNICEF to help children and families affected by the conflict in Ukraine. The group of companies also donated €5 million to the International Committee of the Red Cross.