According to press sources on Wednesday, Nike is leaving Russia after halting business in March, marking yet another symbolic departure of a major American brand as international corporations such as McDonald’s and Starbucks cut connections with Moscow over the invasion of Ukraine.
While Nike temporarily closed most of its Russian locations in early March and stopped sponsoring famous football team Spartak Moscow, a few of independently run but approved retail stores have stayed open.
According to Russia’s Vedomosti newspaper on Wednesday, Inventive Retail Group (IRG), Nike’s largest franchisee in Russia, the sportswear company has delayed shipments and supplies are running short.
IRG, which runs 37 of Russia’s 56 remaining approved Nike stores, also claims that the company has not renewed or given them a new deal to sign.
The company’s current contract with Nike is set to end on Thursday, according to Vedomosti.
Nike has decided not to renew or engage into new commercial commitments in Russia “due to operational issues in Russia,” according to Forbes. This includes agreements with franchisee Up&Run, a subsidiary of IRG.
