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Chanel has decided to completely leave Russia, Kommersant reported. Three anonymous sources told the newspaper that this luxury brand had decided to leave Russia.

The company's management is negotiating the termination of lease agreements for premises.  Experts attribute the refusal to sanctions on the import of clothing and accessories worth more than 300 euros (30 thousand rubles) into Russia.

Other luxury brands will follow this path, experts are sure. Luxury sellers do not have the slightest understanding whether the West will lift sanctions on the import of clothing and accessories over 300 euros into Russia.

The company continued to rent premises for its boutiques, despite the events of 2022. The revenue of Chanel LLC in 2022 decreased by 75.6 percent, to 4.5 billion rubles, and the net loss amounted to 1.8 billion rubles. 

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