American apparel and footwear brand Nike has decided to permanently exit the Russian market. The company has suspended the operations of its e-commerce website as well as the mobile application in Russia and has announced that it will not open its stores again. The brand had 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,” reads the translated message on Nike’s Russian e-commerce website.
American apparel and footwear brand Nike has decided to permanently exit the Russian market. The company has suspended the operations of its e-commerce website as well as the mobile application in Russia and has announced that it will not open its stores again. The brand had announced its temporary exit from Russia in March after it attacked Ukraine.
Last month, the company also refrained from renewing the agreement with Inventive Retail Group (IRG), the largest franchisee for Nike in Russia, according to global media reports.
Fibre2Fashion News Desk (KD)
