Hugo Boss suspends sales in Russia

MOSCOW. March 10 (Interfax) - Hugo Boss AG has temporarily closed its stores in Russia as of March 9, thereby suspending all retail operations and online sales, the German apparel and accessories maker said in a statement.

Russia and Ukraine accounted for around 3% of sales in 2021.

The company also said that it would provide financial and operational support to employees and would remain in close contact with its business partners.

The clothing company's Russian website indicates that, "delivery of orders to Russia is temporarily unavailable."

According to data in the SPARK-Interfax analytical system, Hugo Boss Rus LLC had revenue of 4.4 billion rubles in 2020 and net profit of 120 million rubles.