LPP has decided to sell group companies registered in Russia: Re Trading and LLC Re Development, the company said.
Currently, all LPP brand stores and online stores operating in Russia so far remain closed. However, bearing in mind the still uncertain situation and the inability to predict the fate of the armed conflict in the East, we made a directional decision to sell RE Trading and RE Trading belonging to the LPP Group and LLC Re Development, the company announced.
At the end of March this year. LPP has completed the operational activities necessary to close showrooms in Russia and closed the last one.
On March 4, the company announced that, taking into account the restrictions imposed on Russia by the EU, it decided to suspend operating activities in Russia, including in particular: stopping the development of LPP brands in Russia and stopping the delivery of commercial goods to Russia.
LPP manages the fashion brands Reserved, Cropp, House, Mohito and Sinsay. The company has been listed on the Warsaw Stock Exchange since 2001.
Source: LPP and ISBnews
