Nike is leaving the Russian market entirely after suspending operations in March.
The world's largest athletic-wear maker halted sales in Russia earlier this year following that nation's invasion of Ukraine, telling customers that it could not guarantee product shipments. It had more than 100 stores in Russia.
"Nike Inc has made the decision to leave the Russian marketplace," the company said in a statement on Thursday (Jun 23). "Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months."
Nike does not break out sales for Russia. Revenue from its Europe, the Middle East and Africa region accounted for US$11.5 billion, or about 26 per cent of total sales, in 2021. Bloomberg