© Reuters. FILE PHOTO: The logo of Decathlon is seen at the entrance of the French sports equipment and sportswear company Decathlon store in Merignac near Bordeaux July 10, 2014. The group, number one in French distribution of sports equipment, with 730 stores worl
PARIS (Reuters) -French sportswear retailer Decathlon said on Tuesday it was suspending its activities in Russia as supply conditions were no longer met to continue its activity in the country.
The retailer, owned by France’s Mulliez family, said it will continue to support it 2,500 Russian staff, some of whom have been involved in the company since 2006.
“In strict compliance with international sanctions, Decathlon notes that the supply conditions are no longer met to continue its activity in Russia. Decathlon has to suspend the operation of its stores,” the statement said.
The Mulliez family, which also owns high-profile chains such as DIY retailer Leroy Merlin and food retailer Auchan in Russia, has come under increasing to leave Russia following its invation of Ukraine.
Auchan itself, which has around 30,000 staff, 231 stores and e-commerce activities in Russia, has been criticised by Ukrainian President Volodymyr Zelenskiy for remaining operational in Russia.
The CEO of Auchan however told French newspaper Journal du Dimanche on Sunday, that the retailer plans to maintain its presence in Russia as he feared the company risked losing assets or exposing local managers to potential legal troubles if it pulled out of Russia.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Be the first to comment