Nike decides to exit Russia market permanently

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Recently American apparel and footwear brand Nike announced not to use Russian market. For this the company has suspended the operations of its e-commerce website as well as the mobile application in Russia.

Nike
Figure: American apparel and footwear brand Nike announced not to use Russian market.

Besides that, the brand has announced its temporary exit from Russia in March after it attacked Ukraine.

Company Nike Inc. made a decision to exit the Russian market. Therefore, nike.com and the Nike mobile app will no longer be available in this region. Nike stores recently temporarily closed and will not open again, published on Nike’s Russian e-commerce website.

Earlier this month, the company also refrained from renewing the agreement with Inventive Retail Group (IRG), the largest franchisee for Nike in Russia.

According to the company, “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.”