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The Business of Fashion

Russia

Global Markets

Russian E-Tailer Wildberries Hit by Wave of Ukrainian Drone Strikes

The e-commerce giant has seen at least 20 warehouses attacked since mid-July as Kyiv steps up strikes inside Russia and Moscow intensifies its bombardment of Ukraine, more than four years into its full-scale invasion.

Global Markets

Can Brands Prove They Aren’t Using Russian Diamonds?

Tracking the origin of a gem back to the mine is a notoriously difficult challenge but new sanctions on Russian diamonds are set to radically transform the jewellery industry, requiring “mine-to-finger” traceability in key markets.

Global Markets

What Fashion Should Understand About New Sanctions on Russian Diamonds

Nearly two years after Russia invaded Ukraine, a group of the world’s biggest economies have imposed a rolling ban on stones from the country, starting this week.

Global Markets

Report: Japan’s Uniqlo to Exit Russia, Paving the Way for Sale of Business

Uniqlo owner Fast Retailing suspended the clothing brand’s operations in Russia in March of 2022, joining scores of international companies, after Moscow launched its attack on Ukraine, calling it a “special military operation.”

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Global Markets

Gap Says Russia Deliveries Stopped in March, but Its Clothing Kept Coming

Russian customs records reviewed by Reuters show that between March 11 and July 16, Gap’s franchisee in Moscow received 1,585 clothing shipments with a declared value of $5.2 million.

Beauty

Sephora Makes Permanent Exit From Russia

LVMH is selling Sephora’s Russia business to the local general manager, the company said on Monday in an emailed statement. In early March, the group temporarily closed its Russian stores.

Retail

Nike to Fully Exit Russia, Will Scale Down in Coming Months

Nike said on March 3 it would temporarily suspend operations at all its Nike-owned and -operated stores in Russia in response to Moscow’s actions in Ukraine, adding that those still open were operated by independent partners.

Global Markets

Civil Society Group Criticises Diamond Watchdog Over Russia Stalemate

A rift has emerged within the Kimberley Process (KP) — a coalition of governments, the diamond industry and the umbrella coalition representing civil society — created to prevent the use of gems to fund conflict, over top producer Russia’s invasion of Ukraine.

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Retail

Mango to Franchise Russian Stores to Local Partners

The first two of the 55 shops Mango was directly operating in Russia will be transferred this week to local partners, the Spanish company said in a statement on Monday.

Retail

Russia’s Wildberries Selling Zara Clothes Online Despite Inditex Halting Operations

Other Inditex brands, Massimo Dutti and Pull&Bear, were also available on Wildberries, which said it would continue offering such goods to Russian consumers.

Global Markets

Russians Turn To Domestic Clothing Brands Amid Western Exodus

Sales of clothes, footwear and accessories by Russian brands and manufacturers were 2.6 times higher in March and April than in the same months last year, Ozon, Russia’s second-largest e-commerce platform, said.

Luxury

Chanel Restricts Sales to Russians Abroad

The French luxury giant is refusing to sell to Russians unless they can prove they live outside the country and declare they will not take purchases to Russia, upsetting some clients.