Fast Retailing Co., Asia’s largest retailer and parent of Uniqlo, will continue to operate in Russia even as international pressure to isolate the country for its invasion of Ukraine sees waves of companies pull out.
"Clothing is a necessity of life. The people of Russia have the same right to live as we do,” Chief Executive Officer Tadashi Yanai said, according to emailed remarks that were first published by Nikkei. While he’s against the war, and urged every country to oppose it, all 50 Uniqlo stores will continue to operate in Russia.
His remarks run counter to moves by some of the world’s biggest brands to exit or suspend operations in Russia, a dramatic reversal of three decades of investment by Western and other foreign businesses following the collapse of the Soviet Union in 1991.