We deeply regret developments in Ukraine and we condemn any violence.
ECCO sells in Ukraine through a distributor, who has 132 employees working in ECCO stores. We are closely following developments. We are ready to render assistance to our distributor if requested. In Russia, where ECCO in 2020 acquired the distributor, there are over 1,800 people employed. They and their families are also going through a difficult time. ECCO is following developments closely and is in constant contact with our local management. Until further, ECCO will not expand the business in the Russian market, and investments have been put on hold.
For ECCO, the care for our employees is always our first priority.
ECCO will, however, of course always follow the political directives set by the Danish government. ECCO has decided that we will assist refugees from Ukraine whenever they are arriving in areas where ECCO has activities.