79 158
Fashion Jobs
Asset Protection Detective, Pleasanton Stoneridge - Full Time
Permanent · Pleasanton
Asset Protection Detective, Riverpark - Full Time
Permanent · Fresno
Asset Protection Security Guard, Mall at Greece Ridge Center - Full Time
Permanent · Rochester
Asset Protection Detective, Lakeside - Full Time
Permanent · Sterling Heights
Asset Protection Detective, Walt Whitman - Full Time
Permanent · Huntington Station
Retail Fulfillment Associate, Menlo Park - Full Time
Permanent · Edison
Asset Protection Detective, Gurnee Mills - Full Time
Permanent · Gurnee
Asset Protection Detective, City Creek Center - Full Time
Permanent · Salt Lake City
Retail Fulfillment Associate, Maplewood - Full Time
Permanent · Maplewood
Asset Protection Detective, Coral Square - Full Time
Permanent · Coral Springs
Asset Protection Captain, South Bay - Full Time
Permanent · Boston
Asset Protection Detective, Stockton Sherwood - Full Time
Permanent · Stockton
Retail Fulfillment Associate, Springfield - Full Time
Permanent · Springfield
Asset Protection Manager
Permanent · Boise
General Manager
Permanent · Farmington
Salon Manager
Permanent · Downey
Transportation sr Specialist
Permanent · Haslet
Buyer Fragrance
Permanent · Plano
Salon Manager Btc - Eastridge Shopping Center
Permanent · San Jose
Asset Protection Manager Asheville NC
Permanent · Asheville
Hollister CO. - Brand Representative, Walden Galleria
Permanent · Buffalo
Abercrombie Kids - Brand Representative, South Shore
Permanent · Braintree
Mar 18, 2022
Reading time
3 minutes
Download the article
Click here to print
Text size
aA+ aA-

Ukraine-Russia: reputational damage and inflation are key risks for brands

Mar 18, 2022

Consumers are likely to boycott beauty brands not being seen to do the right thing in the face of the Ukraine-Russia crisis, a report claimed on Friday. It came at the same time as John Lewis’s boss said the UK could face double-digit inflation due to the crisis and M&S was criticised for its franchised stores in Russia remaining open.


Numerous Western fashion and beauty players have pulled out of Russia due to the ongoing conflict with Ukraine, despite Russia being an important market. And more brands are likely to follow suit “pressured by consumer expectations and faced with an increasingly challenging and uncertain environment”, GlobalData said. 

According to the data and analytics company, 41% of global consumers have said they will boycott a brand if it does not align with their personal beliefs or values and with feelings running very high about Russia, that’s likely to result in action at the checkout.

“[Beauty] brands taking a firm stance will be favoured by consumers who are willing to boycott those that do not align with their values. LVMH, for example, is exiting the Russian market despite it being estimated to have provided 6.6% of its 2020 cosmetics and toiletries sales, equivalent to over $300 million”, GlobalData said based on its own estimates.

Lia Neophytou, Senior Health & Beauty Analyst at the firm, called exiting Russia “a drastic but necessary move when considering not only the evolving complications of doing business in the market, but also the potential backlash from consumers around the globe if this decision was not made”.

Meanwhile, in a radio interview, John Lewis Partnership Chair Sharon White said Britain could see double-digit inflation as the effects of the war add to already-soaring prices. Higher costs for retailers will lead to price hikes on their store shelves.

UK inflation is already at 5.5% — its highest for three decades — and is predicted to reach nearly 8% by next month. But the John Lewis chief is worried that the current inflation round isn’t as temporary as some think it will be.

White, an economist  and former second permanent secretary at the Treasury, said “we are seeing inflation we haven’t seen in 30 years. Everything you can see in terms of energy prices from the impact of the Ukraine war suggests that we might well end up with double-digit inflation. My big worry is that it ends out being more enduring than anyone expects. So I think inflation is the big macroeconomic washout.”

Finally, a Conservative MP has called on retailer M&S to do more to make sure its stores in Russia are closed. Alicia Kearns said any money generated in the Russian economy is being funnelled into the war in Ukraine. 

The problem for M&S is that it doesn’t operate its stores directly in the country. Like many other businesses, the 48 stores are owned and run by a franchise partner — in this case one based in Turkey — and M&S can’t order it to close them. Cosmetics and personal care company Lush is in a similar situation, with the stores entitled to stay open even though, like M&S, the brand has stopped supplying the outlets.

Copyright © 2023 FashionNetwork.com All rights reserved.