OREANDA-NEWS  Italian clothing, footwear and accessories brand Fendi has closed its last store in Russia. This is reported by RBC.

We are talking about a boutique in the Moscow GUM shopping center. According to the accounting statements, which turned out to be at the disposal of journalists, the lease agreement for retail space from the subsidiary of LLC Fendi Ru expired on December 31, 2023. GUM itself clarified that a store of the Italian brand Pinko will open on the site of Fendi.

In addition, it is noted that the French fashion house Hermes closed its boutique in the mentioned shopping center. GUM representatives confirmed this information, but did not disclose details about the applicants for the vacant place.

In March, it became known that the French luxury brand Chanel began negotiating the completion of work in Russia. According to Pavel Lyulin, vice president of the Union of Shopping Centers, the company is terminating lease agreements in Russian shopping centers and plans to vacate premises that have not been used since 2022.