Tuesday, February 7, 2023
HomeBusinessLevi Strauss suspends gross sales in Russia

Levi Strauss suspends gross sales in Russia


Levi’s 501 blue denims on show.

Sean Gallup | Getty Photos

Levi Strauss introduced Monday it’s going to droop gross sales in Russia in response to the nation’s invasion of Ukraine.

Levi Strauss, whose blue denims have been a symbol of freedom and Western capitalist promise in Russia’s Soviet days, will halt any new investments within the nation. Roughly 4% of the corporate’s 2021 web income originated in Japanese Europe — half of that associated to Russia, Levi Strauss stated in a launch.

“Any enterprise concerns are clearly secondary to the human struggling skilled by so many,” the corporate stated in an announcement. “The LS&Co. neighborhood continues to be saddened by the devastating battle in Ukraine and our ideas are with all of those that have been affected, together with our workers, companions and their family members.”

The attire firm will even donate greater than $300,000 to nonprofit organizations aiding Japanese European refugees.

Greater than 1,000,000 refugees have fled Ukraine as of final week, and tons of of communities are at present with out energy or water.

The $300,000 Levi Strauss is allocating for humanitarian efforts will profit the Worldwide Rescue Committee and CARE.



Source link

RELATED ARTICLES

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments