Continued global brands joined long and growing list of companies suspending their activities in Russia on Saturday as protests over that of the country invasion of Ukraine and uncertainty over the effects of sanctions are looming.
Samsung Electronics said it stopped shipments to Russia amid Moscow attack on Ukraine. Deliveries have been suspended “due to current geopolitical developments,” Samsung said. in son States.
“We continue to actively monitor this complex situation to determine our next steps“, said the company.
It will be also donate 6 millions dollars to humanitarian efforts around the region, the statement said.
Samsung is the most popular brand for combined in Russia, with a 30% market share in the fourth quarter of 2021, said data provider Counterpoint. The Chinese Xiaomi has 23% market Apple Tracking with 13%, Counterpoint said.
On the financial side, online PayPal payment service said it would drop its services in Russia. Although PayPal has terminated son payment service national in 2020, he had until Saturday allowed the Russians to do international Payments via its platform.
“PayPal supports Ukrainian people and stands with the international community in condemn russia’s violence military aggression in Ukraine”, lit-on in a statement from general manager Dan Schulman.
Russian users of the service will still have a brief period during which it can access remaining funds in their accounts.
Inditex, the parent business of Spanish fast fashion retailer Zara, is also set leave the country, which will mean the temporary closure of 502 stores across Russia. The company also owns the Massimo Dutti, Pull&Bear, Zara Home and Bershka brands, all of Who go also be affected.
“Given the current situations, continuity of operations and business conditions cannot be guaranteed in the Russian Federation”, readson in a press release.
Online sales will also to be shut down. After Spain, Russia is the most grand of the company market. According to his own statements, about 8.5% of its income comes from Russia.
Inditex said that son main will concern the 9,000 people he employs in Russia and said it works on a plan to provide for their.
Inditex is today the number one business in the world for cheap fashion, neck and neck with The Swedish giant H&M, which also announced a reprieve of operations in the country.
spain second- most grand fashion retailer Mango said on Thursday it was temporarily closed son 120 Russian shopset Tendam, the third most grand clothing manufacturer group said it took a similar decision on Saturday.
Marks join a series of Major international companies, including Apple, Intel and Microsoft, which have chosen to halt sales or pause business And service in Russia due to son invasion of Ukraine.
Continued global brands joined long and growing list of companies suspending their activities in Russia on Saturday as protests over that of the country invasion of Ukraine and uncertainty over the effects of sanctions are looming.
Samsung Electronics said it stopped shipments to Russia amid Moscow attack on Ukraine. Deliveries have been suspended “due to current geopolitical developments,” Samsung said. in son States.
“We continue to actively monitor this complex situation to determine our next steps“, said the company.
It will be also donate 6 millions dollars to humanitarian efforts around the region, the statement said.
Samsung is the most popular brand for combined in Russia, with a 30% market share in the fourth quarter of 2021, said data provider Counterpoint. The Chinese Xiaomi has 23% market Apple Tracking with 13%, Counterpoint said.
On the financial side, online PayPal payment service said it would drop its services in Russia. Although PayPal has terminated son payment service national in 2020, he had until Saturday allowed the Russians to do international Payments via its platform.
“PayPal supports Ukrainian people and stands with the international community in condemn russia’s violence military aggression in Ukraine”, lit-on in a statement from general manager Dan Schulman.
Russian users of the service will still have a brief period during which it can access remaining funds in their accounts.
Inditex, the parent business of Spanish fast fashion retailer Zara, is also set leave the country, which will mean the temporary closure of 502 stores across Russia. The company also owns the Massimo Dutti, Pull&Bear, Zara Home and Bershka brands, all of Who go also be affected.
“Given the current situations, continuity of operations and business conditions cannot be guaranteed in the Russian Federation”, readson in a press release.
Online sales will also to be shut down. After Spain, Russia is the most grand of the company market. According to his own statements, about 8.5% of its income comes from Russia.
Inditex said that son main will concern the 9,000 people he employs in Russia and said it works on a plan to provide for their.
Inditex is today the number one business in the world for cheap fashion, neck and neck with The Swedish giant H&M, which also announced a reprieve of operations in the country.
spain second- most grand fashion retailer Mango said on Thursday it was temporarily closed son 120 Russian shopset Tendam, the third most grand clothing manufacturer group said it took a similar decision on Saturday.
Marks join a series of Major international companies, including Apple, Intel and Microsoft, which have chosen to halt sales or pause business And service in Russia due to son invasion of Ukraine.