All H&M Group stores closed in Belarus
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In Belarus, as of Tuesday, all H&M Group clothing stores are closed, transmits TASS with reference to the head office of the company.
“All H&M Group stores in Belarus are closed,” the message says. A similar situation with retailer stores in Russia: as of Tuesday in the country closed all 150 stores.
H&M closed 185 Russian stores in March of this year. But in August, he opened most of them for sales before finally leaving both Russia and Belarus. H&M predicted that leaving Russia, the company’s sixth largest market by revenue, would cost it $200 million and mean layoffs of 6,000 employees.
Nadezhda Tsvetkova, director and head of CORE.XP retail space leasing, said earlier that Russian and some foreign brands are actively replacing the closed H&M stores. So, for example, according to her, MFG Zarina and Befree stores will open in the Surgut City Mall shopping center instead of H&M, and Befree and Kuchenland stores will open in the Collage shopping mall in Penza.
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