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Uniqlo stores in Russia to remain idle in upcoming months, says source

It was specified whether the suspension would be followed by its extension or the cessation of the company’s activities in Russia

MOSCOW, October 21. /TASS/. The suspension of business at Uniqlo stores in Russia may last 3 to 4 months, a source close to the company told TASS.

According to the source, information about the downtime was circulated among the staff of the retailer in Russia at the end of August. A timeframe of between 3 months to half a year was announced back then, he added.

Meanwhile, the source did not specify whether the suspension would be followed by its extension or the cessation of the company’s activities in Russia. He was unaware of any changes in the company’s plans during this time.

Earlier, Vedomosti business daily wrote citing one of the company’s employees that Uniqlo was reducing the number of stores in Russia. The source did not specify the number of stores planned to be closed. That said, at least two outlets on Russian territory have already been closed. In March the company had 50 stores, whereas at the end of September that number was 48, the paper said citing information from the company’s website. Two consultants working in commercial realty are also aware of Uniqlo’s plans to close some stores in the country, Vedomosti added.

Uniqlo is one of Japan’s largest apparel producers and retailers. On March 10, Fast Retailing Co., which manages the chain of Uniqlo stores, announced the suspension of its activities in Russia.