It ain't fashion, if it ain't sustainable

Russian Federation

Exit Strategy / Russa Market

17 April 2026

8 minutes

GUM's vaulted arcades on Red Square once housed boutiques from dozens of Western labels, each presence a statement of confidence in Russia's consumer ambitions and long-term market potential.

Western Fashion Has Not Just Left Russia; It Has Been Locked Out

The corporate retreat from Russia that followed the 2022 invasion of Ukraine was never as clean or swift as the initial wave of announcements suggested. Four years on, many companies are still completing exits they declared in the first weeks of the conflict. Trussardi, the Milan-based fashion house, finalised its Russian withdrawal in early April 2026, closing the last of its business units after a phased wind-down that exposed how structurally difficult departure from Russia had become.

Subir Ghosh

Analysis

The Observer

Event Report / BRICS+ Fashion Summit

4 January 2024

2 minutes

Organised under the auspices of Moscow Fashion Week, BRICS+ Fashion Summit intends to become a centre for business communication between leading industry professionals, experts, light industry specialists, journalists, bloggers, academic experts, upcoming designers and emerging brands from around the world.

BRICS+ Fashion Summit Saw 60 Countries; Deals Worth $2.7 miilion Signed at Moscow Event

The BRICS + Fashion Summit held in Moscow early last month saw business transactions to the tune of $2.7 million.

Staff Writer

Ukraine Fallout / H&M Exit

18 July 2022

2 minutes

Swedish fashion giant H&M said that it regretted that business cannot "continue under the current circumstances and that many colleagues are affected as a consequence." In pic: The H&M Moscow store.

From Russia Without Love: H&M Hits Exit Plan over Ukraine

An unpredictable future has forced Swedish giant H&M to pause all sales in Russia with steps being initiated to begin the process of winding up business in the country, promising also "support to all colleagues concerned" over the coming months.

Staff Writer