Several luxury brands are suspending their operations in Russia.
Automakers Ferrari and Lamborghini have said they will not produce vehicles for the Russian market until further notice.
In a statement, Ferrari said it plans to donate 1m euros (32 832,000) to support relief efforts for Ukrainian citizens.
Lamborghini said it “hopes for a speedy end to hostilities and a return to diplomacy”. It intends to make a donation to the United Nations High Commissioner for Refugees.
Switzerland’s largest watch brand, Rolex, also said on Tuesday it was suspending exports to Russia.
These are among a number of high quality retail stores – including Chanel, Louis Vuitton and Gucci – that have been withdrawn from the country in recent days.
Source: Capital
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
