WWD.com/accessories-news/jewelry/faberg-shuts-kiev-store-due-to-security-fears-in-ukraine-7600650/
government-trade
government-trade

Fabergé Closes Unit Over Ukraine Fears

The high-end jeweler said that the closure of its Kiev boutique will be temporary.

LONDON — Fabergé, the London-based high-end jeweler with roots in Russia, has closed its Kiev boutique due to “heightening security fears in Ukraine,” a company spokeswoman said Tuesday. The store is not expected to reopen before June.

“We have been told that all other competing brands have adopted the same strategy,” the spokeswoman said, adding, “Fabergé’s thoughts and support go to our partners to help them handle the situation as best as possible. The team will be spending some time with our Ukrainian partner in Basel [Switzerland], to talk through potential plans.”

The store, which is run with a local Ukrainian partner, had reopened on March 4, after having been closed temporarily on Feb. 21 for security reasons. The company still plans to run ad campaigns in April issues of the Ukrainian editions of Vogue, Harper’s Bazaar and Forbes, and will continue with outdoor advertising.

As reported, Stephen Webster’s Kiev boutique was temporarily closed in February and early March due to the crisis in Crimea. According to Anastasia Webster, Webster’s Russian-born wife and the international public relations director of his company, the store has since reopened and 18 pieces of jewelry have been sold so far this month.