Friday 29th of March 2024

где-то в москве....

American fashion brand Guess has reacquired its stake from a Russian partner in what experts have described as an unusual deal for the fashion market in the sanctioned country, Kommersant reported on Thursday.  

The clothing manufacturer and retailer reportedly bought back its 30% share from local partner Vyacheslav Shikulov for €8 million ($8.5 million), and has consolidated 100% of its Russian business after the deal was approved by the US Treasury Department.   

At the end of 2015, the parties signed a ‘put option’ agreement which provided Shikulov with the right to sell his 30% stake in local business and obliged the American company to buy out his share by December 31, 2025.   

Shikulov exercised the option in November 2022, and Guess applied for permission to conduct a buyback to the Office of Foreign Assets Control of the US Department of the Treasury (OFAC).   

The move by the US clothing giant is atypical for the current market environment as the vast majority of Western companies exiting Russia are seeking to sell their assets to local investors, industry experts pointed out. The deal could reflect the retailer’s concerns over continuing its Russian operations, they added.   

In 2022, Guess’s revenue in Russia increased by 24% to 4 billion rubles ($49.9 million), data showed.  

READ MORE: Russia exit cost foreign retail brands billions – Kommersant

Numerous foreign brands and businesses have left Russia over the past year following increasing pressure from their governments, with many suffering major losses on exiting the country. 

Earlier in May, Japanese casual wear retailer Uniqlo decided to sell most of its stores in Russia after suffering multimillion-dollar losses. Last year, Swedish clothing brand H&M lost some $363 million, while Spanish clothing conglomerate Inditex – the owner of brands such as Zara, Bershka, and Massimo Dutti – faced about $300 million in losses. French sporting goods retailer Decathlon lost around $140 million, while luxury Italian retailer Moncler and French counterpart Hermes jointly lost around $200 million.

 

READ MORE:

https://www.rt.com/business/576916-guess-stake-buy-back-russia/

 

FREE JULIAN ASSANGE NOW.....................

 

Image at top from THE NEW YORKER "REJECTION COLLECTION"

SEE ALSO:

https://www.newyorker.com/contributors/pat-byrnes

 

dilemma....

by Mikhail Gamandiy-Egorov

Faced with the initiatives of the main non-Western powers and other nations of the Global South – the Western and Kievan regimes are trying by all means to make their voices heard. A voice that has more and more difficulty in being heard in a serious way by the planetary majority, knowing that the NATO axis has done everything except seek a peaceful solution until now in the Ukrainian file.

Washingtonian and Western fears that a large part of the world take a stand in favor of the peace initiatives of the People's Republic of China and other BRICS nations seem to be confirmed more than ever. At a time when the planetary majority has definitively realized that it is precisely the bloc of those nostalgic for unipolarity which stubbornly refuses peace, while each time seeking escalation in the face of the partisans of the multipolar era contemporary.

Obviously and for this purpose, the NATO establishment tirelessly mobilizes its representative under tutelage, namely kyiv. The recent contacts of the representatives of the Kievan regime, in particular towards African and Arab countries, only confirm this thesis. Quite comical fact, but so typical for this regime – the use of a condescending tone on the part of a puppet regime, modeled on that of its Western masters, vis-à-vis the countries concerned. However – no illusions to have, because practically no one is fooled today among the countries concerned by this mobilization of the Otano-Kiev axis.

The reasons for such steps are once again perfectly understandable and predictable. Faced with the inability to realize the scenario so much promoted by the West of inflicting a strategic defeat on Russia, with each passing day the non-Western nations of the world - in other words the only and true international community representing the overwhelming majority of humanity - are increasingly taking a stand in favor of a dividing line between NATO and Moscow, representing a real dilemma for the West.

Indeed and as Observatory Continental had raised it several times – this line of demarcation, even in the present state of things – represents an admission of defeat for the NATO bloc. Maybe not a complete defeat, but a defeat nonetheless. And this without even addressing again the subject that this demarcation line could continue to be extended towards the West within the framework of the Russian special military operation, and thus find itself even closer to the borders of the Atlanticist regimes. Just as no one can guarantee today, despite all Western control over contemporary Ukraine, how long the Kiev regime will be able to hold out in this perspective.

Obviously, the option that seems to be able to suit Westerners, including via the declarations of the Kiev regime, represents an open secret. Namely that Russia is withdrawing from all the territories liberated since the beginning of the special military operation – for the umpteenth reminder after the multiple violations and non-respect of the Minsk Agreements by Kiev and which the French and German regimes were carrying by the way as co-guarantors, and in return foresee a possible Western-Kiev recognition of Crimea as an integral part of the Russian Federation.

Except that this option is obviously unacceptable for Moscow. The case of Crimea has been resolved since 2014. As a reminder in passing, without there having been a single victim in the process of reintegration of the peninsula into Russia and through a referendum which had largely confirmed the will of the overwhelming majority of the multi-ethnic people of Crimea. And in the specific case of Donbass and other predominantly Russian-speaking territories, the Russian State will not allow itself to betray the populations concerned and leave them abandoned in the face of a genocide that the Otano-Kieves will not hesitate to put in work, within the framework of ethnic cleansing. An ethnic cleansing that the representatives of the Kiev regime openly assume in their declarations, with the "blessing" of the godfathers of course.

In this perspective, the dilemma of the West is all the more reinforced. Namely that the continuation of the war by proxy, and now with the rise of the bidding a quasi-direct war between NATO and Russia, places this Western axis not only in front of a condemnation of the overwhelming world majority, but also faced with the reality of seeing other territories of Novorossia (New Russia) to be liberated by the Russian Armed Forces. And all this with a very uncertain perspective as to the future of the Kiev regime, in which enormous investments from the political West had been placed, precisely in the hope of inflicting a defeat not only on Russia, but on everybody multipolar. Without success so far.

Mikhail Gamandiy-Egorov

 

 

READ MORE:

https://en.reseauinternational.net/la-ligne-de-demarcation-est-ouest-et-lagitation-de-laxe-occidental/

 

 

READ FROM TOP.

 

 

 

MAKE A DEAL PRONTO BEFORE THE SHIT HITS THE FAN:

 

 

NO NATO IN "UKRAINE" (WHAT'S LEFT OF IT)

THE DONBASS REPUBLICS ARE NOW BACK IN THE RUSSIAN FOLD — AS THEY USED TO BE PRIOR 1922. THE RUSSIANS WON'T ABANDON THESE AGAIN.

CRIMEA IS RUSSIAN — AS IT USED TO BE PRIOR 1954

A MEMORANDUM OF NON-AGGRESSION BETWEEN RUSSIA AND THE USA.

 

EASY.

 

THE WEST KNOWS IT.

 

FREE JULIAN ASSANGE NOW....

 

happiness in misfortune.....

Russia did not expel Western business, they themselves are leaving! President of Russia Vladimir Putin met with members of the All-Russian public organization "Business Russia" in the Catherine's Hall of the Kremlin. This event is timed to coincide with the Day of Russian Entrepreneurship.

https://www.youtube.com/watch?v=_jmSIrdkdJ4

 

 

READ FROM TOP.

 

 

 

MAKE A DEAL PRONTO BEFORE THE SHIT HITS THE FAN:

 

 

NO NATO IN "UKRAINE" (WHAT'S LEFT OF IT)

THE DONBASS REPUBLICS ARE NOW BACK IN THE RUSSIAN FOLD — AS THEY USED TO BE PRIOR 1922. THE RUSSIANS WON'T ABANDON THESE AGAIN.

CRIMEA IS RUSSIAN — AS IT USED TO BE PRIOR 1954

A MEMORANDUM OF NON-AGGRESSION BETWEEN RUSSIA AND THE USA.

 

EASY.

 

THE WEST KNOWS IT.

 

FREE JULIAN ASSANGE NOW....