PVH joins groups suspending operations in Russia, Belarus
U.S. apparel major PVH Corp. announced on Monday it has temporarily ceased operations in Russia and Belarus, effective immediately, as a result of the war in Ukraine, joining other big name firms including L'Oreal.
In a Securities and Exchange Commission filing, PVH said it has made the decision to temporarily close its stores and pause all commercial activities in Russia and Belarus as of March 7, 2022.
The company also clarified it has no direct operations in Ukraine, and virtually all of the company’s business partners in Ukraine have also closed their stores.
Approximately 2% of the its total net revenue in 2021 was generated in Russia, Belarus and Ukraine, said the owner of Calvin Klein and Tommy Hilfiger brands.
PVH joins a slew of fashion, beauty and consumer goods groups boycotting Russia and nearby ally Belarus by ceasing operations and business ties in the respective states, effective immediately.
On Tuesday, L'Oreal said it would temporarily close its own stores, its directly operated counters in department stores and its e-commerce sites in Russia, in reaction to Moscow's invasion of its neighbour Ukraine, while consumer giant Unilever said it would stop imports and exports out of Russia after the country's invasion of Ukraine.
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