Massive queues in Moscow as shoppers grab last chance to shop at H&M

Long lines of Russian shoppers formed outside H&M stores in Moscow malls this week as the Swedish fashion retailer reopened to sell off stock before pulling out definitely from Russia.

< p class="dcr-xry7m2">Along with a series of other Western brands, including Ikea, Nike and Zara owner Inditex, H&M halted operations in Russia after the invasion from Ukraine on February 24, but opened its doors for the last time this week to dispose of remaining goods.

Leaving Russia, its sixth-largest market, is costing the company 2 billion Swedish kronor (almost £170 million) and affects 6,000 employees.

Long queues have been seen outside H&M stores of the Aviapark shopping center in Moscow, according to images published on Telegram by the Baza media and at the com center mercial Metropolis.

"Well it's closing, that's why we're here," one customer, Irina, told Reuters. "I'm going to buy whatever there is."

Another customer, Ekaterina, said: "Unfortunately the reason why all this is happening is horrible. Everything else doesn't make sense, like how we're going to manage [without H&M]."

While Swedish furniture chain Ikea chose to hold a selling online only from July 5, H&M has decided to temporarily reopen its stores. The world's second largest fashion retailer after Spain's Inditex, it leases 170 stores in Russia and operates them directly.

H&M has confirmed there have been queues queues in mall stores, and said most of its Russian outlets would reopen in August or September. He plans to keep them open "for a limited time until the majority of the remaining inventory has been sold".

H&M, which opened in Russia in 2009 and owns clothing brands such as Monki, Weekday and Cos, suspended operations in Russia in early March after Western sanctions against Moscow. In mid-July, he decided to follow others like Nike in leaving the country for good as the war continued and fighting moved to eastern Ukraine.

"After careful consideration, we see it is impossible, given the current situation, to continue our business in Russia," H&M chief executive Helena Helmersson said last month. saddened by the impact this will have on our colleagues," referring to the retailer's 6,000 employees in Russia.

U.S. fashion retailer TJX and the largest store in Poland's fashion retailer LPP has decided to sell off its Russia business, while H&M's biggest rival Inditex has yet to decide whether to pull out permanently, chief executive Óscar García Maceiras said last month. to shareholders that he would continue to monitor the situation.