Russian media quoted the Union of Shopping Centers in Russia as saying that the stores of the German fashion brand “Hugo Boss” will reopen their doors in Russia this month or next September after being acquired by the retail company “Stockmann”.
The media also noted that Western cosmetics companies are working to register their trademarks in Russia, and the talk is about “Christian Dior”, which has applied to register the trademarks Dior, Dioramour, Gem Dior and a logo with an image that includes the letters C and D.
In 2022, Hugo Boss joined other Western companies that decided to exit Russia after the West imposed broad sanctions on Moscow over the conflict in Ukraine.
Commenting on the opening of Hugo Boss stores after Stockmann’s purchase of Russian operations, Natalia Kermidchieva, an official at the Union of Shopping Centers, said: “The new Hugo Boss stores will not be different, everything will be the same without changes. All 19 stores will open at the same time,” noting that the stores’ brands will be preserved.
The official explained that the name of the legal entity of “Hugo Boss Rus” will be changed to “Link Fashion” at the request of the seller.
Media reported earlier that the German fashion company had sold its Russian business to its partner Stockmann for an undisclosed sum. Foreign companies that decide to sell their Russian business must obtain government permission to sell.
Russian authorities reportedly approved the sale of Hugo Boss in April, and documents show the deal was completed on August 2 and Stockmann now owns 100% of Hugo Boss Rus.
According to the Russian Ministry of Trade and Industry, a group of Western companies are interested in resuming their activities in Russia and are studying various options.
Source: Russian media
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2024-08-14 00:53:30