Next withdraws from Russia Business

Supermarket chain Next has become the latest company to pull out of Russia amid an exodus of Western brands.

The retailer, which sells goods online and has a fulfillment center in Russia, told staff over the weekend it was mothballing the warehouse. The move will affect approximately 160 permanent and temporary employees.

In the coming days, Next’s website in Russia will be shut down indefinitely. It has already halted product shipments to the country in response to the invasion of Ukraine.

The brand, run by its conservative counterpart Lord Wolfson, has never had its own stores in Russia, but there were several franchise stores until 2019 when its partner decided to close them.

In its last annual report, Next had a single legal entity, LLC Next, based in Moscow.

The decision comes after other British brands such as Fortnum & Mason, Harrods and Harvey Nichols halted deliveries to the country and in some cases pulled Russian-made products from shelves.

Burberry temporarily closed its stores after announcing earlier this week that it would suspend shipments of luxury goods to the country. Louis Vuitton and Chanel have also temporarily closed their stores.

Ikea, M&S, H&M and Nike also joined the boycott of Russian businesses last week as pressure mounts on established brands to pull out of business as Vladimir Putin’s assault on Ukraine intensifies.

Coca-Cola and McDonald’s have so far resisted calls to pull out of Russia.

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This notice was published: 2022-03-06 17:35:34

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