“Mango has decided to finally abandon direct sales in Russia after 23 years of presence in the country’s market due to “international geopolitical uncertainty” over Ukraine,” the publication says.
It is noted that Mango has reached an agreement with a number of franchise partners to transfer business.
The first two points of sale are expected to be transferred next week, and there will be 22 more between June and July.
Earlier it was reported that the owner of the Polish clothing retailer LPP, which manages the Reserved and House brands, decided to sell the Russian division to a Chinese consortium.
At the end of March, the Polish clothing manufacturer LPP Group announced the closure of its stores in Russia.