Nike will make a complete departure from Russia in the coming months, Reuters reported Thursday, citing an emailed statement from the company.
The exit comes nearly four months after the U.S. athletic-wear giant suspended its Russian operations on March 3 following the country’s invasion of Ukraine.
"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," the statement said.
Nike’s website and mobile app will also no longer be available in the country, it said.
The move by Nike is viewed as a largely symbolic one, as less than 1% of its global revenue comes from Ukraine and Russia combined.
The Vedomosti business daily reported last month that Nike decided not to renew its contract with its largest Russian franchisee, Inventive Retail Group (IRG), which operates 37 Nike stores in Russia.
In a letter to IRG employees cited by Vedomosti, the franchisee’s President Tikhon Smykov said it would be forced to close its Nike stores because the brand was unable to ship its products to Russia “in the foreseeable future.”
Hundreds of major Western brands have left Russia since the invasion of Ukraine, both in opposition to the war and because severe Western sanctions on Moscow have made doing business next to impossible.
Some, like Starbucks and McDonald’s, have permanently ended operations there.
Swedish furniture seller IKEA is also reportedly planning to permanently shutter its Russian stores.
Later on Thursday, U.S. telecoms equipment maker Cisco said it will end operations in Russia and Belarus.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
