Ukraine war: Uniqlo stays put in Russia as Netflix, Levi’s and others cut ties

‘Clothing is a necessity of life. The people of Russia have the same right to live as we do,’ says the head of Fast Retailing, which owns the brand

Political pressure is building on companies to halt business in the country, while operations have also been complicated by sanctions over Putin’s invasion

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A Uniqlo sign is seen outside a store in Sydney, Australia in February. Photo: Bloomberg

Published: 6:00am, 8 Mar 2022Updated: 12:41pm, 9 Mar 2022

Uniqlo owner Fast Retailing will keep its stores in Russia open, joining a small group of international firms that are staying put even as dozens of big brands temporarily halt operations or exit the country over its invasion of Ukraine.

Political pressure is building on companies to halt business in Russia, while operations have also been complicated by sweeping sanctions affecting everything from global payments systems to a range of hi-tech products.

Large shippers have suspended container routes to and from Russia and many Western companies from Nike Inc and home furnishings giant Ikea to energy majors BP and Shell have closed shop or announced plans to exit the country.

“Clothing is a necessity of life. The people of Russia have the same right to live as we do,” said Fast Retailing CEO Tadashi Yanai in remarks first reported by Nikkei, adding that every country should oppose war.

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A spokesperson said the company had seen no noticeable impact on its supply chain or logistics in Russia, where Uniqlo has 49 stores.

In contrast, Levi Strauss & Co suspended its Russian operations, including any new investments. The move came after streaming giant Netflix, credit card company American Express and the Big Four accounting firms KPMG, PwC, EY and Deloitte cut ties with Russia.