The American sportswear company is one of a rising number of Western corporations that have decided to withdraw from Russia due to the Ukraine crisis.
Nike announced on Thursday that it will leave the Russian market permanently and will not reopen its outlets, which were temporarily closed shortly after Moscow launched a military assault in Ukraine.
The American sportswear conglomerate is one of a rising number of Western corporations, including McDonald’s and Starbucks, who have decided to withdraw from Russia over the Ukraine crisis.
“Nike Inc. has decided to exit the Russian market…The Nike stores have lately been temporarily closed and will not return,” the firm said in a statement.
It also stated that its website and app will be unavailable throughout the country.
Nike announced last month that it will not renew licencing arrangements with Russian retailers.
On February 24, Russia’s President Vladimir Putin ordered soldiers into pro-Western Ukraine, provoking unprecedented sanctions and prompting an exodus of global firms such as H&M, Adidas, and Ikea.
