A well-known manufacturer of clothing, in particular jeans, Levi Strauss & Co (LS & Co), announced that it was temporarily ceasing work in Russia, the company said in a press release.
“Given the significant disruptions occurring in the region, which do not allow normal operation, LS&Co. temporarily suspends commercial activity in Russia, including any new investments. The company intends to support its employees, partners and their families affected by this decision in the coming months,” the company said in a statement.
According to the release, last year about 4% of the company’s revenue came from Eastern Europe, half of which came from Russia.