ASOS suspends Russian sales operation
As the fashion industry begins to take in the enormity of the crisis in Ukraine, ASOS said on Wednesday that it has suspended its operations in Russia.
In FY21 Russia and Ukraine represented around 4% of group revenue and contributed approximately £20 million to its profit.
The company said in a short statement that its “priority is the safety of its colleagues and partners in Ukraine and Russia”.
Immediately following the invasion, it had suspended sales in Ukraine “as it became impossible to serve customers there”.
That was a decision purely based on practicality. But now, “against the backdrop of the continuing war”, it has decided that “it is neither practical nor right to continue to trade in Russia”. It has therefore, “today suspended our sales there. Our thoughts are with the people of Ukraine and all those affected in the region”.
It’s a message that we’re likely to hear much more often from brands and retailers in the next few days.
While fashion was relatively slow to react at first, as the reality of the situation has been sinking in, more companies and individuals have been taking stands.
Other brands that have paused their Russian activities include Nanushka and Nike
Earlier this week, Kurt Geiger
