War in Ukraine, after being targeted by Swedish and international public opinion, the two Scandinavian retail giants Ikea and H&M are backtracking and ceasing their activities in Russia. The first to move was the H&M group which announced a “temporary” suspension of sales in the country (sixth most important market), saying it was “worried about the tragic developments in Ukraine” and expressing “closeness to all the people who are suffering” . Then came the communication from Ikea from Stockholm, which immediately stopped its activities not only in Russia but also in Belarus, announcing together with its foundation a donation of over 400 million Swedish crowns (about 37 million euros) to help those who they were forced to flee due to Russian aggression on Ukraine.
Notably, Ikea announced the closure of all 17 stores in Russia. In a joint statement, Inter Ikea and Ingka Group stated that “the war has a huge human impact and causes serious disruptions to the supply chain and commercial conditions. For this reason, the corporate groups have decided to temporarily suspend Ikea operations in Russia. “. The However, the Swedish furniture giant has decided not to close the shopping centers in Russia that operate under the Mega brand. According to Ikea, this is to ensure that many people in Russia have access to food and medicine.
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