Uniqlo is reversing an earlier decision to continue doing business in Russia after coming under fire for not joining more than 330 other multinational companies who cut ties with the country over the invasion of Ukraine.
“While continuing our Uniqlo business in Russia, it has become clear to us that we can no longer proceed due to a number of difficulties,” Fast Retailing, the clothing brand’s parent company, said in a statement on Thursday.
“Therefore, we have decided today to temporarily suspend our operations.”
The company added: “Fast Retailing is strongly against any acts of hostility. We condemn all forms of aggression that violate human rights and threaten the peaceful existence of individuals.”
Earlier this week, company founder Tadashi Yanai defended a decision to continue operations.
“Clothing is a necessity of life,” Yanai told the Japanese newspaper Nikkei.
“The people of Russia have the same right to live as we do.”
Major retailers including Starbucks, Apple, H&M, McDonald’s, Coca-Cola, and Nike are among the scores of multinationals who have pulled out of Russia in protest of the invasion of Ukraine.
On Saturday, Inditex, the parent company of clothing retailer Zara, said it would temporarily close all of its approximately 500 stores in Russia and shutter its online sales operation in the country.
Social media users have applied intense public pressure on companies that have either been silent about the war or who have insisted on maintaining business ties with Russia despite the horrific images coming in from Ukraine.
The shuttering of popular businesses is just another sign of mounting economic pressure on Russia, whose currency has cratered due to the sanctions.
Last week, The Post reported that Russian shoppers packed Ikea stores after the furniture retailer said it would close stores due to operational concerns.
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