ASOS and H&M pause sales in Russia

ASOS and H&M have joined a growing list of retailers shutting down sales in Russia and Ukraine.

This week Boohoo, Nike, Apple, and Burberry also announced they would be pausing sales in Russia.

On Wednesday H&M published a statement expressing concern about the ongoing invasion of Ukraine.

“H&M Group is deeply concerned about the tragic developments in Ukraine and stand with all the people who are suffering,” it said.

The fast fashion brand added that it has decided to temporarily pause all sales in Russia.

H&M stores in Ukraine have already been shut “due to the safety of customers and colleagues”.

The company said that it joins all those around the world calling for peace.

Immediately following the invasion, ASOS stopped sales in Ukraine as it said it “became impossible to serve customers there”.

It added that against the backdrop of the ongoing war it had also decided to suspend sales to Russia.

Last year Russia and Ukraine represented four per cent of group revenue and contributed around £20 million to group profit.

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