Japanese retailer Uniqlo ceases its business in Russia

According to Ukrinform, Vedomosti newspaper reported this with reference to the Japanese company's partners.

The owners of the shopping centers where Uniqlo outlets used to be confirmed the termination of the lease.

Uniqlo's Russian business was represented by Uniqlo Rus LLC and owned by Fast Retailing (75%) and Mitsubishi Corporation (25%).

As reported, in March 2022, Uniqlo announced the temporary suspension of its outlets in Russia. The latest reports indicate that the business will be completely closed. At the beginning of 2022, there were 49 stores in Russia under the Uniqlo brand.