Nike is leaving Russia, but he could face THIS PROBLEM

Nike is leaving Russia, but he could face THIS PROBLEM

American footwear and clothing manufacturer Nike has decided to leave Russia, the company announced on its website.

“The company has made the decision to leave the Russian market. The Nike and Nike mobile app will no longer be available in this region. Nike stores were recently temporarily closed and will not reopen, “the company said, reports the Russian agency TASS.

Najki confirmed this May that it would not renew and conclude new agreements with Russian partners.

Nike, sneakers (Pixabay)

On March 3, Nike announced that it would temporarily suspend work in all its stores in Russia, which are owned and managed by the company. All this in response to Moscow’s actions in Ukraine, adding that those who are still open are managed by independent partners.

For Nike, which received less than 1 percent of its income from Ukraine and Russia together, this move is largely symbolic, not material.

Another company in a row

Nike has thus joined other major Western brands, such as McDonald’s and Renault, in confirming that it will leave the country altogether.

“Nike has decided to leave the Russian market. “Our priority is to ensure that we support our employees while responsibly reducing our operations in the coming months,” Nike said in a statement.

Foreign companies wishing to leave Russia over the war in Ukraine face the possibility of adopting new laws in the coming weeks that would allow Moscow to seize property and impose criminal penalties. This prompted some companies to expedite their departure.

Nike, store (Pixabay)

Adidas said in March that it was closing its Russian stores and pausing online sales. Puma also suspended its operations in March. Reebok suspended sales the same month and is in talks to sell more than 100 stores to Turkish footwear retailer FLO Magazacilik.

Adidas does not currently plan to continue doing business in Russia, the German sportswear company told Reuters.

“The work of Adidas stores and Adidas online retail in Russia is still suspended until further notice, which also refers to the delivery of goods to Russia,” it is stated in the announcement.

Source: BIZLife

Photo: Pixabay/AP

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