Reima has withdrawn from Russia
The withdrawal of Reima from Russia is concluded as Reima’s subsidiary in Russia has been sold to a local operator. Reima strongly condemns Russia’s attack on Ukraine. Its business operations in Russia were halted in March 2022 when also a process to exit the market was started.
Reima’s own stores and ecom stores in Russia were closed permanently in March 2022. The use of Reima brand by franchise entrepreneurs was ended after a transition period, in June. Pre-orders committed to before the war started were delivered to Russian wholesale customersduring summer and autumn, but Reima has not sold its new2023 collections to Russia.
As the last step in the exit process, Reima’s Russian subsidiary with its remaining assets have now been sold to a group oflocal investors. All approvals from required Russian authorities have been received and the sale was closed in February 2023.
Reima’s personnel in the Russian subsidiary transferred under the new owner’s employment. The subsidiary Reima LLC will also change its name as part of the agreement.