Chip Bergh stressed that the conditions for the work of Western companies in Russia seem to him “really difficult.”
The American jeans manufacturer Levi’s is unlikely to resume work in Russia in the near future. Chip Bergh, the company’s executive director, said this in an interview published on the website of the British newspaper Financial Times.
“Given how the situation is at the moment, I don’t think we will return to business in full force in the near future,” he said, adding that the conditions for Western companies to work in Russia seem to him “really difficult.” Bergh expressed concern that the Russian authorities “may take the trademark” of the company as part of possible changes in the legislation of the Russian Federation, providing for the possibility of nationalization of the property of foreign organizations that are leaving the Russian market.
The head of Levi’s stressed that the company still pays salaries to more than 800 employees in Russia. Berg also clarified that by the end of last year, the Russian market accounted for about 2% of the company’s global sales. Levi’s on March 7 announced the suspension of work in Russia in connection with the events in Ukraine.