Polish clothing company LLP, which owns the Reserved, Cropp, House, Mohito and Sinsay brands, announced on Tuesday, March 29, that it has closed its last store in Russia and will open it on March 29. Business operations there were suspended on March 4. The company announced on its website that it has completed business operations related to the closure of its stores in Russia and will close its last store on Tuesday.
Due to the restrictions imposed by the European Union on Russia, LLP decided on March 4 to suspend its business activities in Russia, including stopping brand development and stopping shipments of goods to Russia . The retailer is also shutting down all internet sales for its brands.
LLP companies are listed on the WIG20 Index of the Warsaw Stock Exchange and are part of the Morgan Stanley Capital International (MSCI) Poland Index. The company sells its apparel in 25 markets through a network of more than 2,500 outlets, distributing more than 259 million garments annually on 3 continents. The company has 27,000 employees in offices and stores in Poland, other European countries, Asia and Africa.
