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Boohoo latest retailer to suspend sales in Russia

Boohoo latest retailer to suspend sales in Russia

On this episode of Talking Shop, we're joined by Dan Cate, CEO and Founder of SoldThrough. Dan is a heavyweight retail executive who has spent decades steering the merchandising and digital operations of America’s most iconic retail institutions, from Saks Fifth Avenue and Bloomingdale’s to Century 21 and Lord & Taylor. Today, through his platform SoldThrough, Dan helps international fashion brands cross the Atlantic and crack the notoriously brutal U.S. retail landscape. We break down his journey from the shop floor to the C-suite, the operational indicators that prove a brand is truly ready for international expansion, and how to navigate a fragmented American market without destroying your margins. We also discuss how to balance localised inventory with central efficiency, and the one non-negotiable metric that tells you a product has found genuine market fit.

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Boohoo has announced it is one of several major retailers to suspend all sales in Russia in the wake of the ongoing Ukraine crisis. 

The retailer said it was “deeply concerned” about the “tragic developments” in the region, and confirmed that all sales and trading websites in Russia were suspended immediately following the invasion. 

In a statement, the group said: “Boohoo is deeply concerned about the tragic developments in Ukraine. 

“Immediately following the invasion, the group suspended sales to Russia, and also closed its Russian trading websites.” 

Boohoo joins a host of major retailers that have made the decision to cease trade in Russia.

This week, for example, H&M Group announced it has decided to temporarily pause all sales in Russia.

The retailer said it has made donations of clothes and other necessities to the people of Ukraine, while the H&M Foundation has also made donations to Save the Children and to UNHCR.

In addition, Asos announced it was also cutting ties with Russia following its invasion of Ukraine last week, stating that it was not “practical nor right” to continue trading in the country. 

It said: “Against the backdrop of the continuing war, Asos has decided that it is neither practical nor right to continue to trade in Russia, and has, therefore, today suspended our sales there. Our thoughts are with the people of Ukraine and all those affected in the region.”

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