As Russian President Vladimir Putin’s attacks on Ukraine intensify, with more than two million people having fled the country, beauty giants have halted all commercial activity and advertising in Russia.
It’s clear now that, no matter how big or small their businesses are, they’re willing to take a stand, sacrifice profits, and the goodwill of their local partners and Russian consumers.“We strongly condemn the Russian invasion and the war in Ukraine, which is causing so much suffering to the Ukrainian people,” said L’Oréal in a statement Tuesday.
The group said its priority is to support its 326 Ukrainian employees and their families, the majority of whom remain in the country. L’Oréal is helping its employees in Ukraine with financial and psychological help. The Estée Lauder Cos. Inc. said that having halted its investments and initiatives in Russia last week, “we have also decided to suspend all commercial activity in Russia, including closing every store we own and operate, as well as our brand sites and shipments to any of our retailers in Russia. Our top priority remains the safety of all our employees and we have decided to continue to provide compensation and support to our employees in Russia at this time.
The company said it “will not invest any further capital into the country, nor will we profit from our presence in Russia. We will continue to supply our everyday essential food and hygiene products made in Russia to people in the country. We will keep this under close review.” On March 2, Coty Inc. stated: “We stand firmly with all those calling for peace and an end to the violence in Ukraine. Our hearts go out to all who are in harm’s way and who have family and loved ones affected.”“As a business and individually, we have been exploring ways to do more,” Coty wrote.
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