Nike makes full The US sportswear maker told Reuters it had exited Russia three months after suspending its operations there on Thursday, in the name of pace of Accelerated exit of Western companies from the country.
Nike said on On March 3, it said it would temporarily suspend operations at all Nike-owned and operated stores in Russia in In response to Moscow’s actions in Ukraine, adding that independent partners manage those that are still open.
On Thursday, it joined Other major western brands, like McDonald’s and Reno, in He assured that she will leave the country completely.
Nike has made The decision to leave the Russian market. Our priority is ensure We are completely supporting Our employees as we expand responsibly down Our operations over “The coming months,” Nike said. in Email statement.
Foreign companies seeking to get out of Russia over the war in Ukraine face Prospect of new Laws being passed in The coming weeks will allow Moscow to take over assets and impose criminal Penalties. This has encouraged some companies to speed up their exit.
What was a trickle has become a torrent (of Paul Musgrave, politician science professor in the University of Massachusetts.
Other sportswear makers have also withdrawn back.
Adidas competitor said in March was shutting down her Russian car stores and stop online sales. puma also suspended operations in Walk. Reebok suspended sales in March and it in talks for sale more from 100 stores For Turkish shoe stores FLO Mağazacılık.
Adidas currently Does not have a plans Resumption business in The German sportswear company in Russia told Reuters on Thursday.
“the operation of Adidas’ stores and adidas online selling by pieces in Russia is still suspended until further notice, this also Applies to delivery of goods to Russia in Email statement.
Musgrave said companies leaving Russia may do so struggle to come back.
“This provides opportunities for local businesses in Some markets but even more for Brands from China and elsewhere to make inroads.”
The move largely symbolic and not material to her results for nike that gets less than 1% of Its revenues are from Ukraine and Russia combined.
The company has history of take a stand on social and political issues. American supported football quarterback Colin Kaepernick in for him decision To kneel during the United States national protest anthem against Racism and the downfall of Brazilian football star Neymar last year Because he refused to cooperate in An investigation into allegations of sexual assault.
Russian media mentioned in I hope Nike did not renew the agreements with Its biggest franchisee in Russia, the Inventive Retail Group (IRG), which operates 37 Nike brands stores in Russia through its subsidiary Up And Run.
