10 March 2022, Mumbai:
Uniqlo owner Fast Retailing Co 9983.T is suspending its Russian operations temporarily, it said on Thursday, reversing its previous position and adding that it condemned acts of aggression.
While numerous brands announced their exits from Russia over its invasion of Ukraine, Fast Retailing's founder had told Japanese media that the company would continue operating its 50 stores in Russia because "clothing is a necessity of life".
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But on Thursday it said: "While continuing our Uniqlo business in Russia, it has become clear to us that we can no longer proceed due to a number of difficulties.
"We condemn all forms of aggression that violate human rights and threaten the peaceful existence of individuals."
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CREDITS: nasdaq.com.
