Nike says it will permanently leave Russian market

The U.S. sports apparel giant is among a growing list of Western companies that decided to pull out of Russia over Ukraine

People walk past a closed store of the sporting goods retailer Nike at a shopping mall in Saint Petersburg, Russia. File. | Photo Credit: Reuters

Nike said on Thursday it will be permanently leaving the Russian market and will not reopen its stores after temporarily shuttering them shortly after Moscow started a military campaign in Ukraine.

The U.S. sports apparel giant is among a growing list of Western companies — including McDonald’s and Starbucks — that decided to pull out of Russia over Ukraine.

“Nike Inc. made a decision to leave the Russian market...The Nike stores were temporarily closed recently and will not reopen,” the company said in a statement.

It added that its website and app will no longer be available in the country.

Last month, Nike said it will not be renewing licensing agreements with Russian retailers.

Russia’s President Vladimir Putin ordered troops into pro-Western Ukraine on February 24, triggering unprecedented sanctions and sparking an exodus of foreign corporations including H&M, Adidas and Ikea.