Nike Says Will Permanently Leave Russian Market


<!–

–>

Last month, Nike said it will not be renewing licensing agreements with Russian retailers.

Moscow, Russia:

Nike said Thursday it will be permanently leaving the Russian market and will not reopen its stores after temporarily shuttering them shortly after Moscow started a military campaign in Ukraine.

The US sports apparel giant is among a growing list of Western companies – including McDonald’s and Starbucks – that decided to pull out of Russia over Ukraine.

“Nike Inc. made a decision to leave the Russian market … The Nike stores were temporarily closed recently and will not reopen,” the company said in a statement.

It added that its website and app will no longer be available in the country.

Last month, Nike said it will not be renewing licensing agreements with Russian retailers.

Russia’s President Vladimir Putin ordered troops into pro-Western Ukraine on February 24, triggering unprecedented sanctions and sparking an exodus of foreign corporations including H and M, Adidas and Ikea.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)


Original Article reposted fromSource link

Disclaimer: The website autopost contents from credible news sources and we are not the original creators. If we Have added some content that belongs to you or your organization by mistake, We are sorry for that. We apologize for that and assure you that this won’t be repeated in future. If you are the rightful owner of the content used in our Website, please mail us with your Name, Organization Name, Contact Details, Copyright infringing URL and Copyright Proof (URL or Legal Document) aT spacksdigital @ gmail.com

I assure you that, I will remove the infringing content Within 48 Hours.

Leave a Reply

Your email address will not be published.

World News

OPEC Secretary General Muhammad Barkindo passes away

BAKU, Azerbaijan, July 6. OPEC Secretary General Muhammad Barkindo has died at age 63 in Nigeria, NNPC Ltd’s Group Chief Executive Officer Mele Kyari said on Twitter, Trend reports. “We lost our esteemed Dr Muhammad Sanusi Barkindo. He died at about 11 PM yesterday, 5th July 2022. Certainly a great loss to his immediate family, […]

Read More
World News

'The ship could have ended up on the rocks': Stricken vessel docks

Andy Perry, operations operations manager for Engage Towage, said the 21 crew members were “happy” to get back to dry land after a “long ordeal”. “Morale is high but they’re tired,” he said. Perry said all people involved in the ship’s recovery had been trained for such emergencies and today’s operation had been carefully planned.He […]

Read More
World News

SNCF strike: Rail services across France cut as unions walk out in cost-of-living row

Rail unions are staging a 24-hour strike on Wednesday, the eve of the summer holidays, in a dispute over the cost of living, forcing national train operator SNCF to drastically reduce services across France and urge users to postpone their journeys Original Article reposted fromSource link Disclaimer: The website autopost contents from credible news sources […]

Read More