The US sportswear maker, Nike has announced plans to fully exit the Russian market in three months, after suspending its operations there on 3rd March 2022.
Nike said on March 3 it would temporarily suspend operations at all its Nike-owned and -operated stores in Russia in response to Moscow’s actions in Ukraine, adding that those still open were operated by independent partners.
However, it has now joined other major Western brands, like McDonald’s and Renault, in confirming it will leave the country completely.
Rival Adidas said in March it was shutting its Russian stores and pausing online sales. Puma also suspended its operations in March. Reebok suspended sales in March and is in talks to sell more than 100 stores to Turkish shoe retailer FLO Magazacilik.