In a show of support for the people of Ukraine, the Fiskars Group has decided to withdraw completely from the Russian market. The company has operated locally mainly through its Fiskars brand and has employed approximately 70 people in Moscow and in the St. Petersburg area. The net sales of the Russian business in 2021 was approximately 1% of the global net sales of the company. The exit from the Russian market will not have a significant impact on the company’s financial standing or the 2022 results.
“In this situation, with Russia having attacked Ukraine and caused an immense humanitarian catastrophe, it is clear to us that we cannot continue to operate in Russia. We will ensure that our exit from the market is done with due consideration to the local employees and legislation,†says Nathalie Ahlström, President and CEO, Fiskars Group.
Fiskars Group has already previously ceased the export of its products to Russia.
