Japan’s Uniqlo to exit Russia, paving the way for sale of business
Japanese brand Uniqlo
Uniqlo owner Fast Retailing
Deputy Minister of Industry and Trade Viktor Yevtukhov said the company has decided to completely leave Russia but is yet to submit an application to the government, which means the chain has no buyer yet, Izvestia reported on Tuesday.
“I think they can offer potential buyers their business model,” Izvestia cited Yevtukhov as saying. “The Japanese retailer will be able to offer … lease agreements, popular points of sale with the good buyers traffic and equipment.”
Fast Retailing did not immediately respond to a Reuters request for comment.