Major luxury brands walk away from the lucrative Russian market

The list of companies around the world cutting business ties with Russia continues to grow.

British luxury brand Burberry (BURBY) became the latest to jump on the bandwagon after announcing it would be temporarily shutting down its three stores in Russia, including one located in Moscow’s famous Red Square.

Burberry isn’t the first luxury brand to make this move: On Friday, Hermes (HESAY) announced it would temporarily close its stores in the country, saying it is “deeply concerned by the…


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