Uniqlo CEO goes against grain, vows to keep selling clothes in Russia

Fast-paced fashion company Uniqlo will continue to do business in Russia while other large corporations close stores and halt operations in protest of Russian President Vladimir Putin’s unprovoked war. Ukraineaccording to a report.

The CEO of Japan’s retail retailer Fast Retailing, which owns Uniqlo, has vowed to keep Uniqlo’s 50 retail stores open in Russia, arguing that its citizens should be entitled to clothing and other essentials despite Putin’s actions. reported the global news organization Nikkei Asia.

“Clothing is a necessity of life,” CEO Tadashi Yanai told Nikkei last week. “The people of Russia have the same right to live as we do.”

Going reluctantly

Yanai Uniqlo is an atypical value among large corporations with imprints in Russia that they have stopped trading operations in an effort to undermine Russia’s attack on Ukraine, even if it means suffering a financial blow. Large companies, from Apple to Disney and Ikea, have abruptly left the Russian market since Putin sent his troops to Ukraine on February 23.

Uniqlo’s competitor and Swedish fast-fashion chain H&M also said it would “temporarily stop all sales in Russia” in part because of concerns about the safety of its employees.

“H&M Group is deeply concerned about the tragic developments in Ukraine and is on the side of all those who suffer,” the company said in a statement.

The opposing Fast Retailing movement is generating a backlash from some Uniqlo customers, who are fans of clothing but less enthusiastic about its geopolitical stance.

There have even been calls on social media to boycott Uniqlo as a result of its decision to continue doing business in Russia, as millions flee war-torn Ukraine in an effort to protect their own lives. . Uniqlo, described on its website as the “fourth largest retailer in the world”, operates around 1,500 stores worldwide.

“And it’s time to boycott Uniqlo. It’s very sad to read his announcement of staying in Russia,” Titter user Tiia R said on Monday.

Others on social media hurled insults at the retailer and accused Uniqlo of supporting Russian aggression. In turn, they promised to boycott Uniqlo.

“From now on, you will not buy any Uniqlo material until you change course in the face of invasive Russia,” said a Twitter user based in Taiwan.

“Never buy @UNIQLO_JP again. They have refused to stop operations in Russia. Big red flag. Terrible values,” @alejandro_m_g said.

At the same time, Uniqlo has taken steps to show that it supports the people of Ukraine, which is still under relentless attack by Russia.

Last week, Fast Retailing said it would give $ 10 million to the UN High Commissioner for Refugees, which is providing financial assistance to displaced Ukrainians. The funds will help cover the costs of accommodation, psychosocial support and other services for those who were forced to flee, according to a Fast Retailing statement.

Neither Fast Retailing nor Uniqlo responded to CBS MoneyWatch’s comment request.

Fast Retailing also said it would donate 100,000 pieces of Uniqlo clothing, including warm blankets, base coats and face masks to refugees.