Nike is withdrawing from Russia completely, joining many of its Western compatriots in removing its economic support from the country.
The company announced Thursday that it is making a complete exit from Russia. Nike temporarily closed its Russian stores on March 3 in response to Russia’s invasion of Ukraine. However, a select number of stores owned by independent partners continued to operate independently of Nike’s desire.
RUSSIA INCREASES CYBERATTACKS ON COUNTRIES BACKING UKRAINE: MICROSOFT
“NIKE has made the decision to leave the Russian marketplace. Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months,” the athletics company said in an email statement to Reuters.
These efforts are expected to take several months before the company is entirely out of Russia.
The company has made slow efforts toward a total step-back from the country since Ukraine was invaded in February. It announced on May 25 that it was not renewing its franchise agreements with Inventive Retail Group, a Russia-based franchise owner that operates 37 Nike stores in Russia.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Nike is not the only Western company to pull out of Russia. McDonald’s also pulled out of Russia, leaving hundreds of stores within the country’s borders. Those stores were picked up by Russian businessman Alexander Nikolaevich Govor and rebranded as “Vkusno & Tochka.” Starbucks also pulled out of Russia, shutting down more than 100 stores in the process.
