Worldwide fashion icon Sir Paul Smith has apologised for keeping his Russian stores open as the war began in Ukraine.
Sir Paul, 76, admitted it was a “mistake” to carry on trading as his competitors withdrew from the market.
Three of his shops shops carried on working in Moscow – including one in a prestigious arcade favoured by oligarchs.
Another store in St Petersburg also kept its door open to shoppers.
They finally shut this week.
Sir Paul’s spokesman said:
“The company does not trade directly with Russia, but, for two decades, we have had a franchise partner who operates stores in Russia.
“We now realise it was a mistake to allow these stores to continue trading in our name against the background of the war in Ukraine.
“We have requested that these stores are closed, and we have now ceased all supplies to the distributor.”
Under sanctions, brands can still supply goods to Russia if they are sold for less than £250.
Under those restrictions most big-ticket designers pulled out straightaway.
Paul Alger MBE, international business director of the UK Fashion & Textile Association, said:
“It is not morally right for them to be selling to Russian retailers and consumers.
“Some Russian stores have offered to handle imports from UK brands through other countries, but that would be in breach of the rules if the wholesale price of the goods exceeds £250.
“Whilst there are some exceptions, my perception is that most UK companies are still avoiding Russia even below the threshold because they think it is the right thing to do.
“However, there will be many EU and Turkish companies in particular, looking to capitalise on UK brands like Paul Smith leaving the Russian market, particularly with goods sold below the EU’s more generous €300 (£267) threshold.”
There is no suggestion Nottingham-based Sir Paul has broken any trading rules.
