PRESS: Apparel producer Levi Strauss leaves Russia, sells business

MOSCOW, May 23 (PRIME) -- U.S. apparel producer Levi Strauss has decided to leave the Russian market and is looking for purchasers of its business, Kommersant business daily reported on Monday citing sources.

“Jeans apparel seller Levi Strauss & Co has decided to leave the Russian market fully after 29 years of operations. The company has stopped purchases of goods and is looking for buyers of its retail business,” the daily reported.

Turkey’s Fiba Holding, the owner of Gap, Marks & Spencer and Banana Republic outlets in Russia, is one of the potential buyers, the sources said.

Levi’s head office did not immediately respond to the daily’s request for comment.

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