World News

Iconic American clothing brands could return to Russia — RT Business News

Tommy Hilfiger and Calvin Klein were included in the list of parallel imports

Stores of American clothing brands Tommy Hilfiger and Calvin Klein may reopen in Russia this year under new names, according to Pavel Lyulin, vice president of the Russian Union of Shopping Centers.

Lyouline told RIA Novosti on Monday that discussions regarding the sale of the chain of stores have been continuing since PVH Corp., the parent company of the American brands, handed over its activities in the Russian market to local management in mid-August. . This locally registered entity, renamed “Retail Excellence”, is expected to oversee the operations of more than 150 outlets in the country, as Kommersant daily reported last week.

“The assortment of stores will be based on products from the Tommy Hilfiger and Calvin Klein brands since they are included in the list of parallel imports. Prices are unlikely to be adjusted significantly, any more than through inflation. » Lyulin explained.

The industry insider also noted that a Tommy Hilfiger store is already operating in Moscow’s Aviapark shopping center, without the brand’s logo.

The Japanese giant remains loyal to Russia

PVH joined other Western companies in an exodus from the Russian market last year due to sanctions imposed on Moscow. At the end of February 2022, the company announced the suspension of business operations and, later, the closure of its stores in the country.

Due to the departure of these companies from the country, Russia had to shift to parallel imports of goods from Western markets and explore opportunities in non-Western markets. Therefore, brands from Turkey, China, India and other “friendly” countries have increased their presence in Russia.

For more articles on economics and finance, visit RT’s business section

You can share this story on social media:


Back to top button