Japanese casual wear retailer Uniqlo has backtracked its decision to continue trading in Russia, just days after asserting its belief in the right of Russians to purchase its goods.
As a result, Uniqlo operator Fast Retailing has now confirmed that it will temporarily cease trading in the country, only days after founder and CEO Tadashi Yanai told Japanese newspaper Nikkei that “clothing is a necessity of life” and “the people of Russia have the same right to live as we do.”
However, statement released yesterday by Fast Retailing read: “While continuing our Uniqlo business in Russia, it has become clear to us that we can no longer proceed due to a number of difficulties. Therefore, we have decided today to temporarily suspend our operations.
“Fast Retailing is strongly against any acts of hostility. We condemn all forms of aggression that violate human rights and threaten the peaceful existence of individuals.
“Our thoughts are with the people who are suffering today, and we will do whatever we can to support them during these very tragic times. We wish for the return of peace and stability as quickly as possible.”
READ MORE:
The news comes as Uniqlo announced last week “a donation of US$10 million and clothing through [its] longstanding global partnership with UNHCR.”
The company’s European employees will also oversee clothes shipments to displaced Ukrainians.
The fashion retailer joins a growing number of major international brands pulling out of the Russian market. Uniqlo’s decision follows that of other clothing retailers Zara and H&M, in an ever-expanding list.
Click here to sign up to Marketing Beat’s free daily email newsletter
