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Nike says will permanently leave Russian market
After similar moves from H and M, Adidas and Ikea
23 June, 19:25 (ANSA-AFP) - MOSCOW, JUN 23 - Nike said Thursday it will be
permanently leaving the Russian market and will not reopen its
stores after temporarily shuttering them shortly after Moscow
started a military campaign in Ukraine. The US sports apparel
giant is among a growing list of Western companies -- including
McDonald's and Starbucks -- that decided to pull out of Russia
over Ukraine. "Nike Inc. made a decision to leave the Russian
market... The Nike stores were temporarily closed recently and
will not reopen," the company said in a statement. It added that
its website and app will no longer be available in the country.
Last month, Nike said it will not be renewing licensing agreements with Russian retailers. Russia's President Vladimir Putin ordered troops into pro-Western Ukraine on February 24, triggering unprecedented sanctions and sparking an exodus of foreign corporations including H and M, Adidas and Ikea.
(ANSA-AFP).
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Last month, Nike said it will not be renewing licensing agreements with Russian retailers. Russia's President Vladimir Putin ordered troops into pro-Western Ukraine on February 24, triggering unprecedented sanctions and sparking an exodus of foreign corporations including H and M, Adidas and Ikea.
(ANSA-AFP).