Nike leaves Russia entirely following Ukraine invasion
Add BT as a preferred source
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
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
The retirement advice that worries me the most
Haidilao co-founder’s family buys second bungalow in Cluny Hill for S$85 million
From hawker stall to Enterprise Award winner: How Han Keen Juan scaled the Old Chang Kee empire
Yeo’s, Tiger Beer and now Gardenia – flight of food manufacturing from Singapore might be just as planned
