H&M Starts Imports Of New Collections To Russia From Kazakhstan - Reports

MOSCOW (UrduPoint News / Sputnik - 16th September, 2022) The Swedish clothing retailer Hennes & Mauritz (H&M) has started to import a new collection from Kazakhstan to Russian stores as the company is seeking to remain at the Russian market "as long as possible," Russian newspaper Izvestia reported on Friday, citing sources.

The retailer seeks to remain at the Russian market as long as possible so it organized the imports of goods to Russian stores from Kazakhstan, the newspaper reported, citing a source close to the company's leadership.

The report also said that the company hired additional staff at the warehouses as the full-time employees are not able to handle the volume of deliveries.

The new collection has not yet been presented in stores and is only being prepared for sale, it added.

Meanwhile, the company's press service said that H&M's stores in Russia are selling the stock goods before its complete cessation of operation in the country.

In July, H&M announced the sale of its business in Russia, including a stockpile worth $210 million. The retailer was set to sell about 170 shops in 65 Russian cities and the remaining products from a 30-week stockpile.