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Poland fashion chain LPP to expand in EU after pulling out of Ukraine, Russia

Gdansk (Reuters) -Poland’s biggest fashion retailer, LPP, said on Monday it would strengthen its presence in the European Union, shifting focus after suspending its business in Ukraine and closing stores in Russia. Loss of the two eastern markets would cost 25% of revenue, it said. “After the difficult period of the pandemic, we faced further challenges related to losing a significant part of the sales network,” said Chief Financial Officer Przemyslaw Lutkiewicz, referring to the suspension of Ukrainian operations and decision to quit Russia.

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