Nike to fully exit Russia, will scale down over coming months

A closed Nike store in St Petersburg last month. Nike has suspended operations in Russia since March. PHOTO: REUTERS

PARIS/COPENHAGEN (REUTERS) - American sportswear maker Nike is making a full exit from Russia, three months after suspending its operations there, the company said Thursday (June 23).

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.

On Thursday, it joined other major Western brands like McDonald's and Google in confirming it would leave the country completely.

"Nike has made the decision to leave the Russian marketplace. Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months," it said in an e-mailed statement.

Russian media reported in May that Nike had not renewed agreements with its largest franchisee in Russia, the Inventive Retail Group, which operates 37 Nike-branded stores in Russia through its subsidiary Up And Run.

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