Jun 23, 2022

Nike to make full exit from Russia

Nike has announced plans to leave Russia, becoming the latest Western brand to quit the country since the invasion of Ukraine in February. "Nike has made the decision to leave the Russian marketplace," the company said in a statement. Russia has grown increasingly economically isolated since the invasion, as the West and allies impose sanctions and international companies head for the exits. In May, Russian media reported that the company was ending its agreement with its largest franchisee in Russia, responsible for 37 stores. Nike had previously disclosed that Russia and Ukraine together accounted for less than 1% of the company's revenue.

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