The global cosmetics giant L’Oréal announced on Tuesday that it has decided to close its stores in Russia. Nevertheless, its factory located near Moscow will continue to produce.
This factory, inaugurated in 2010 in the Kalouga region, south of Moscow, notably manufactures shampoos and colorings, as well as hygiene products and baby products.
The group also indicates that it has “suspended all industrial and advertising investments” in Russia.
“With regard to our activity in Russia, we are completely aligned with the position of the French government and the European authorities”, detailed L’Oréal in this statement, which takes effect immediately.
A temporary closure
“We have decided to temporarily close all our directly managed stores as well as directly managed counters in department stores and we have suspended all national industrial and advertising investments,” wrote L’Oréal.
In addition, the French group has “taken the decision to temporarily close the e-commerce sites of its brands in Russia”, a country where it achieves around 2% of its turnover, which in 2021 reached a little more of 32 billion euros.
The cosmetics giant added to seek to “take additional measures, while taking care of our 2,200 Russian employees”.
Luxury at a standstill in Russia
L’Oréal also declares that it “strongly condemns the Russian invasion and the war waged in Ukraine, which is causing so much suffering to the Ukrainian people”.
On Friday, luxury giants LVMH, Kering, Hermès and Chanel announced the “temporary” closure of their stores in Russia following the country’s invasion of Ukraine launched on February 24.