icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
19 Sep, 2023 05:06

Iconic US clothing brands may return to Russia

Tommy Hilfiger and Calvin Klein have been included in the list of parallel imports
Iconic US clothing brands may return to Russia

The stores of US clothing brands Tommy Hilfiger and Calvin Klein may reopen in Russia this year under new names, according to Pavel Lyulin, the vice president of the Russian Union of Shopping Centers.

Lyulin told RIA Novosti on Monday that discussions regarding the sale of the chain of stores have been ongoing ever since PVH Corp., the American brands’ parent company, handed over its operations in the Russian market to local management in mid-August. This locally registered entity, which was rebranded as ‘Retail Excellence,’ is set to oversee operations for over 150 outlets in the country, as reported by Kommersant daily last week.

“The stores’ assortment will be based on goods from the brands Tommy Hilfiger and Calvin Klein since they are included in the list of parallel imports. Prices are unlikely to be adjusted significantly, no more than by inflation,” Lyulin explained.

The industry insider also noted that a Tommy Hilfiger store already operates in Moscow’s Aviapark shopping center without the brand logo.

PVH joined other Western firms in an exodus from the Russian market last year due to sanctions imposed on Moscow. At the end of February 2022, the company announced the suspension of commercial operations and, later, the closure of its stores in the country.

Due to these businesses departing from the country, Russia has had to transition to parallel imports of goods from Western markets and explore opportunities from non-Western markets. Consequently, brands from Türkiye, China, India, and other ‘friendly’ nations have increased their presence within Russia.

For more stories on economy & finance visit RT's business section