Puma assesses losses after Russia destroys its warehouse stock

Puma Ukraine has lost €12 million after a Russian attack on a logistics centre where the company's stock was stored, preliminary estimates indicate.

Source: Retailers Association of Ukraine

Quote: "The preliminary estimate puts the value of the destroyed stock at more than €12 million. The final damage assessment is ongoing."

Details: As a result, disruptions are expected in the availability of certain product lines across the retail network, online store and wholesale channel. Despite the extremely difficult circumstances, Puma Ukraine continues to operate.

Quote: "Together with the local management team, Puma's global office and our logistics partners, we are already implementing a set of measures aimed at restoring the supply chain, arranging alternative logistics solutions and resuming deliveries as quickly as possible."

Background:

• A logistics complex where products from the well-known sportswear and footwear brand Puma were being stored was destroyed during the Russian attack on Kyiv on the night of 4-5 August.
• A distribution warehouse complex in Brovary belonging to Rozetka, one of Ukraine's largest retailers and online marketplaces, was destroyed in a strike by three ballistic missiles on the night of 4-5 August. The company said the complex could not be restored and that no one was injured in the attack. Rozetka's direct losses from Russian attacks amount to billions of Ukrainian hryvnias and are the largest in the company's history.
• The massive Russian attack also completely destroyed the Denka Logistics warehouse, where Intertop Ukraine products were being stored.
• The Russian attack also damaged a NOVUS logistics centre and two Silpo distribution centres. Both NOVUS and Silpo are Ukraine's major supermarket and retail chains. Six employees were killed.
• The central warehouse of Liqui Moly Ukraine, the company's distributor of motor oils in Ukraine, was completely destroyed by fire as a result of a Russian strike.

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