More than a year after the start of the conflict in Ukraine, the French Leroy Merlin, giant of DIY equipment and one of the main foreign employers in Russia, announced that it wanted to sell all of its stores in this country, one of its largest markets.
Adeo, the parent company of Leroy Merlin, indicated Friday "
its intention to cede control
" of the company, established for 18 years in Russia, its second market after France.
This operation “
should make it possible to preserve the jobs of the 45,000 employees and to perpetuate the activity of the company
”, argues in a press release the French group, owned by the Mulliez family.
The transfer will be subject to the approval of the competent authorities in Russia, specifies the press release, which quotes “
a work started several months ago in compliance with the applicable regulations
”.
In an interview with the regional daily
La Voix du Nord
on Friday, management said it wanted to make its stores in Russia autonomous in all respects.
"
We do not know what the local authorities will tell us (...) Other companies like Danone or Schneider have made the same request for an activity control session, they have been waiting for a response for months", indicates
the direction, quoted by the newspaper.
Several brands owned by the Mulliez family remained very established in Russia, despite the invasion of Ukraine by Russian troops.
The 113 Leroy Merlin stores in this country represent between 18 and 20% of the company's total turnover, she told AFP.
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Adeo explained last year that it was maintaining its activity in Russia but that it was suspending all new investment, citing the risk of "
expropriation
" in the event of withdrawal, a threat waved by the Russian authorities.
Auchan, another commercial brand belonging to the Mulliez family galaxy, achieves more than 10% of its sales in Russia, for 230 stores, according to figures from mid-2022.
However, while many French and Western groups have withdrawn from Russia since the start of the war, the decision of the Mulliez family to stay in the country has drawn criticism.
In mid-February, the head of Ukrainian diplomacy Dmytro Kouleba thus accused Auchan of having become a "
weapon in its own right of Russian aggression
" after the publication of an investigation by the daily Le Monde according to which the group had contributed to Moscow's war effort, via a collection of products intended for Vladimir Putin's army in March 2022. Accusations denied by Auchan.
The choice to disengage from Russia has a cost for Western companies.
The French bank Societe Generale thus separated last year from its Russian retail banking subsidiary, Rosbank.
A withdrawal which had resulted in a charge of more than 3 billion euros in its accounts.
Before the war, more than 500 French companies (including 35 CAC 40 groups) operated in Russia, according to the Ministry of the Economy.
Always from the same source, France was, before the invasion of Ukraine, the first foreign employer in Russia, with some 160,000 employees.
