German personal care group Henkel has said that it will not halt operations in Russia despite the ongoing war in Ukraine.
The beauty heavyweight said in its general meeting that business would continue to go ahead, but that restrictions would be applied where possible.
“This is sometimes viewed very critically by the public. So, it is important to me to stress we are fully applying all applicable sanctions,” Chairperson Simone Bagel-Trah told shareholders in the meeting hosted this week, as reported by Reuters.
The maker of Schwarzkopf said that it would follow developments in the region and take further necessary measures.
Ukraine is home to some of Henkel’s manufacturing sites, along with beauty competitors L’Oréal and Oriflame.
The decision follows Henkel’s announcement last month that it would stop all investment in Russia due to the invasion of Ukraine, which is about to enter its sixth week.
“We share the shock about the war in Ukraine and stand behind the call of the global community on Russia to immediately withdraw its military forces from Ukraine,” the group’s CEO, Carsten Knobel, said in a statement at the time.
“We hope that a diplomatic solution can still be found and the fighting can be ended to avoid further suffering and a humanitarian crisis.
“Our highest priority in this situation is the safety of our colleagues in Ukraine and we are doing everything possible to support them in this dramatic situation.”
Henkel also said that it would freeze all assets in the country, such as site expansions.
All advertising in state media has been halted and sponsorships cancelled.
Cosmetics Business has reached out to Henkel for comments.
