As things heat up between Russia and Ukraine, some luxury retailers are pressing pause on sales in Russia. Some have shuttered stores, halted e-commerce sales, and some have ceased all commercial activity.
Vogue Business reports that Kering, the company that owns Gucci, Balenciaga, and St. Laurent, will close its stores temporarily. Chanel said in a statement Friday that their boutiques will also be closed, and e-commerce sales will be suspended. Both cited growing concerns over the situation in Europe.
LVMH paused local operations on Friday, closing down all of its stores.
Hermès shared a statement on LinkedIn announcing its Russian locations would shut down for the foreseeable future. As of March 3, Richemont has closed its stores down and paused business.
Before shutting down operations, some of the luxury companies, including Chanel, LVMH, and Kering, have made donations toward Ukrainian relief efforts. And while they have condemned the ongoing war, they’ve all stopped short of criticizing Russian President Vladimir Putin.
In addition to the luxury brands shuttering operations, the country has felt an impact on shipping overall. Both FedEx and DHL announced they had halted shipping to the country. Online retailers, such as Farfetch and Mytheresa, have also pressed pause on orders to Russia.
