H&M Halts Gross sales in Russia After the Invasion of Ukraine

H&M Group, one of many greatest sellers of clothes on the planet, mentioned on Wednesday that it was briefly pausing all gross sales in Russia, becoming a member of a rising listing of firms rethinking their ties to the nation after its invasion of Ukraine.

“H&M Group is deeply involved concerning the tragic developments in Ukraine and stand with all of the people who find themselves struggling,” the corporate mentioned in a statement. It added that it “cares for all colleagues and joins all these world wide who’re calling for peace.”

H&M, which is headquartered in Stockholm, mentioned that it had already briefly closed its Ukraine shops for the security of customers and workers. The corporate didn’t instantly reply to a request about its retailer rely in Russia or when it started promoting merchandise there.

The announcement got here a day after Apple said it paused sales of its products in Russia. Oil firms, together with BP, Exxon Mobil and Shell have introduced they might exit the nation, and two Hollywood studios — the Walt Disney Company and Warner Bros. — have mentioned they might pause the discharge of movies in Russia.