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Nike says will permanently leave Russian market

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.

June 23, 2022 / 06:10 PM IST
Representative image

Representative image

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.

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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.
AFP
first published: Jun 23, 2022 06:10 pm
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