Finnish children’s clothing company Reima has completed the sale of its assets in Russia. This is reported on site companies.
“Reima’s exit from Russia is complete as Reima’s subsidiary in Russia has been sold to a local operator,” the February 24 post reads.
It is noted that all of Reima’s own stores were closed in March 2022, and the use of the brand by franchised enterprises ceased in June. At the same time, all pre-orders made before the start of the special operation to protect Donbass were delivered to wholesale buyers, but new collections were not sold in the Russian Federation.
The Reima subsidiary and remaining assets were sold to a group of local investors. It is noted that all permits from the Russian authorities were received, the deal was closed in February 2023. As part of the agreement, Reima LLC will change its name, and all of its staff will go to work for the new owner.
Prior to that, on February 6, the Volkswagen concern announced that it was considering the possibility of selling its Russian assets to one of the domestic companies. However, no final decision has been made on this issue.
On December 14, the Swiss manufacturer of building materials Holcim announced its withdrawal from the Russian market along with the brand. He signed an agreement on the transfer of Russian assets to local management, work in the Russian Federation will continue under a new brand.
Foreign companies have begun to suspend their activities in the Russian Federation or leave the Russian market amid the geopolitical situation and anti-Russian sanctions imposed.
