‘Deeply concerned’ Boohoo suspends sales to Russia

Boohoo has become the next retailer to suspend its business operations in Russia following Putin’s invasion, following in the footsteps of its rivals.

“Boohoo is deeply concerned about the tragic developments in Ukraine,” the company said in a statement.

“Immediately following the invasion, the Group suspended sales to Russia, and also closed its Russian trading websites.

“Sales made by the Group into Russia are not material, totalling less than 0.1% of Group revenues.”

Online fast-fashion retailer Asos also this week suspended sales in the country over the conflict.

READ MORE: Ukraine conflict already having “significant” impact on international trade

It said that continuing to make sales in Russia was “neither practical nor right” as the invasion continues to intensify.

In FY21 Russia and Ukraine accounted for around 4% of Asos revenue, worth approximately £20 million.

An official statement read: “Asos’ priority is the safety of its colleagues and partners in Ukraine and Russia.

“Immediately following the invasion, Asos suspended sales in Ukraine as it became impossible to serve customers there.

“Against the backdrop of the continuing war, Asos has decided that it is neither practical nor right to continue to trade in Russia, and has, therefore, today suspended our sales there. Our thoughts are with the people of Ukraine and all those affected in the region.”

Click here to sign up to Charged‘s free daily email newsletter



Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.