Uniqlo may sell its Russian business
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The Japanese company Uniqlo may put the Russian business up for sale. About this Izvestia told Deputy Minister of Industry and Trade Viktor Evtukhov.
The company decided to leave the Russian market and closed its stores, while the retailer did not submit an application to the government commission for the control of foreign investment for the deal. The chain of stores does not yet have a buyer, Yevtukhov said.
“I think they can offer potential buyers their business model, by analogy with how McDonald’s did earlier,” Yevtukhov suggested. According to him, the retailer will be able to offer buyers to conclude lease agreements for “busy retail places” with good traffic and purchase equipment.
In February 2023, Evtukhov said that Russian companies could “perfectly replace” Uniqlo products. In the fall of 2022, Uniqlo notified company staff that certain temporarily closed stores were preparing for full closure, informed in October, one of the company’s employees told Vedomosti.
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