Retailer Watsons to leave Russia in late June, close 47 stores in St. Petersburg
ST. PETERSBURG. March 15 (Interfax) -Watsons, a major Asian health and beauty retailer, plans to close down its operation in Russia by the end of June 2022, the company said, citing the head of Watsons Russia, Andrei Melnikov.
Unfortunately, at the end of January 2022, based on the financial results of the business, Watsons decided to end its operations on the Russian market, the company said.
Operations in Russia will be wound down in several stages. Bonus points will no longer be given for purchases as of March 15 and the retailer's online store will take orders until March 21. Customers will be able to use accumulated points and gift cards until the last stores close on June 30.
The company said it has 47 stores in Russia, all of which are located in St. Petersburg.
Watsons is the flagship brand of A.S.Watsons Group, which also includes Kruidvat, Superdrug, Trekpleister, Rossmann and Savers chains, among others.
A.S. Watson Groups is part of the Hong Kong conglomerate CK Hutchison Holdings, which also has interests in freight transport, marine logistics, telecommunications, manufacturing, energy and engineering infrastructure, real estate and hotels, among other businesses. The conglomerate's companies have a presence in more than 50 countries.