Clothing and sporting goods maker Nike announced on Wednesday that it has suspended sales at its partner stores in Russia and terminated all partnerships with Russian retailers, two months after it temporarily closed its own stores due to the occupation of Ukraine.
The Beaverton (Oregon, USA)-based multinational justified the decision by “operational difficulties” in Russia.
According to Russian newspaper Vedomosti, Nike’s distribution deals with its two main trading partners in Russia expire on Thursday, specifically with Inventive Retail Group (IRG), which manages its Up & Run stores.
According to a Nike message to AFP, the group “has made the decision not to renew or sign any new deals, even with our Up & Run franchise.”
The announcement means that the brand is suspending the sale of its products in all select stores that only sell their products.
The brand stated that its operations in Russia “continue to be suspended”, but continue to pay the salaries of its employees.
This week, American coffee chain Starbucks decided to permanently cease operations in Russia after other multinationals like McDonald’s reached an agreement to sell its business to a local businessman.
Other foreign companies, such as department store H&M, French automaker Renault and Swedish homeware chain Ikea, also ceased operations in Russia on February 24 after the occupation of Ukraine and Western economic sanctions on Moscow.
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source: Noticias
