INSUBCONTINENT EXCLUSIVE:
Nike will make a complete departure from Russia in the coming months, Reuters reported Thursday, citing an emailed statement from the
company.The exit comes nearly four months after the United States athletic-wear giant suspended its Russian operations on March 3 following
Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months," the
last month that Nike decided not to renew its contract with its largest Russian franchisee, Inventive Retail Group (IRG), which operates 37
brands have left Russia since the invasion of Ukraine, both in opposition to the war and because severe Western sanctions on Moscow have
seller IKEA is also reportedly planning to permanently shutter its Russian stores.
