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+--- Thread: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! (/showthread.php?tid=264916)
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Re: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! - hal - 03-08-2022
Coke and Pepsi just announced exits
Re: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! - davemchine - 03-08-2022
Uniqlo is no longer on that list BUT headlines still say they remain open in Russia. Interesting to watch the list as it appears to be changing rapidly.
https://som.yale.edu/story/2022/over-200-companies-have-withdrawn-russia-some-remain
Re: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! - graylocks - 03-08-2022
hal wrote:
Like graylocks said, "The company has about 130 outlets in Russia and Ukraine, according to Bank of America Securities. They are all licensed locations, so the Seattle-based company itself doesn’t operate them."
I wonder what coercion was used to get the licensee to close down?
Maybe they threatened to stop sending them frappuccino base.
Seriously, have no clue but perhaps the Kuwaiti Conglomerate has other locations worldwide that might have suffered a PR hit if they hadn't.
Re: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! - Tiangou - 03-08-2022
hal wrote:
"... our values mean we cannot ignore the needless human suffering unfolding in Ukraine."
Translation: We just realized that the fees for washing that money through China will eat our Russian profits anyway.
Re: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! - Lemon Drop - 03-09-2022
https://www.reuters.com/business/retail-consumer/starbucks-suspending-all-business-activity-russia-2022-03-08/
NEW YORK, March 8 (Reuters) - Coffee giant Starbucks Corp (SBUX.O) said on Tuesday that it is suspending all business activity in Russia, including shipment of its products and cafes run by a licensee.
The company said that Kuwait-based Alshaya Group, which operates at least 100 Starbucks cafes in Russia, will "provide support to the nearly 2,000 partners in Russia who depend on Starbucks for their livelihood."
Re: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! - deckeda - 03-09-2022
graylocks wrote:
[quote=hal]
Like graylocks said, "The company has about 130 outlets in Russia and Ukraine, according to Bank of America Securities. They are all licensed locations, so the Seattle-based company itself doesn’t operate them."
I wonder what coercion was used to get the licensee to close down?
Maybe they threatened to stop sending them frappuccino base.
Seriously, have no clue but perhaps the Kuwaiti Conglomerate has other locations worldwide that might have suffered a PR hit if they hadn't.
Yeah that’s easy to do. The license holder always holds the cards with plenty of provisos and declarations adaptable to a wide variety of circumstances. Shut off access and / or supplies and the license holder is stopped.
Re: Uniqlo will NOT close their stores in Russia-i will NOT be shopping at Uniqlo! - DeusxMac - 03-09-2022
"Tadashi Yanai is a Japanese billionaire businessman, the founder and president of Fast Retailing, the parent company of Uniqlo ("unique clothing"). As of October 2021, he was the richest person in Japan, with an estimated net worth of US$33.4 billion & 40th wealthiest person in the World according to Bloomberg Billionaires Index."