Sales of the H&M Group Russia 2021

The sales revenue of the Swedish clothing retailer H&M Group in Russia reached nearly 867.82 million U.S. dollars in 2021, up 29 percent from the previous year. The 2021 earnings were the highest over the observed period from 2009, when the group started operating in the country. In March 2022, the group stopped sales in Russia in response to the invasion of Ukraine. In July 2022, the H&M Group announced completely exiting Russia. The country was the group's sixth largest consumer market.

Sales of the H&M Group in Russia from 2009 to 2021 (in million U.S. dollars)

Characteristic	Sales in million U.S. dollars
2021	867.82
2020	671.1
2019	716.51
2018*	633.48
2017*	682.23
2016	492.6
2015	395.65
2014	412.06
2013	391.67
2012	318.9
2011	218.21
2010	130.79
2009	53.66

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Release date

March 2022

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Region

Russia

Survey time period

2009 to 2021

Supplementary notes

* Figures from 2009 to 2017 are gross sales which relate to sales inclusive of VAT.
Figures from 2018 on are net sales figures as no gross sales figures inclusive of VAT were published.

The exchange rates used to convert from SEK into USD are (respectively from December 1 to November 30):
2008: 0.12303
2009: 0.14386
2010: 0.14279
2011: 0.14432
2012: 0.1528
2013: 0.15264
2014: 0.13475
2015: 0.11435.
2016: 0.1145.
2017: 0.1195.
2018: 0.11042.
2019: 0.10457.
2020: 0.10779.
2021: 0.11079.

The figures include online sales.
The statistic has been assembled from several annual reports by the source.