According to Ukrinform, this is reported by Bloomberg.
Nike Inc. decided to leave the Russian market,” the company said.
The company also added that their priority now is to fully support their employees in Russia and to reduce their operations in Russia responsibly over the coming months.
It is noted that the world’s largest sportswear manufacturer stopped sales in Russia earlier this year after the Russian invasion of Ukraine, telling customers that it could not guarantee the supply of products.
In total, there were more than 100 Nike stores in Russia.
As Ukrinform reported, at the end of May, Russian media published the news that the American shoe and clothing manufacturer Nike did not renew the franchise agreement with Inventive Retail Group (IRG), which owns the largest single-brand chain of stores of the American retailer in Russia.
Since the first days of the full-scale invasion of Ukraine, international allies and partners have imposed tough packages of sanctions on the Russian economy, as well as export restrictions. Hundreds of companies have announced the termination of work in the Russian Federation and the withdrawal from joint projects.