The Limited Times

Now you can see non-English news...

Nike suspends sales at partner stores in Russia

2022-05-25T15:11:38.344Z


This decision comes two months after temporarily closing its own 116 stores on Russian territory. US sportswear maker Nike announced on Wednesday the suspension of sales at partner stores in Russia and the ending of all partnerships with retailers in the country, two months after temporarily closing its own stores. To discover Taxes 2022: all about your tax return Read alsoThe departure of Renault from Russia: an uncertain future due to a lack of equipment manufacturers The Beaverton (Oreg


US sportswear maker Nike announced on Wednesday the suspension of sales at partner stores in Russia and the ending of all partnerships with retailers in the country, two months after temporarily closing its own stores.

To discover

  • Taxes 2022: all about your tax return

Read alsoThe departure of Renault from Russia: an uncertain future due to a lack of equipment manufacturers

The Beaverton (Oregon) group justified this decision by “

operational difficulties in Russia

”.

According to the Russian daily Vedomosti, the distribution agreements that linked Nike to its two main commercial partners in Russia expire on Thursday, in particular with the Inventive Retail Group (IRG), which manages the chain of dedicated Up & Run stores.

The equipment manufacturer "

has taken the decision not to renew commercial agreements or to establish new ones, including with our franchisee Up & Run

", according to a message sent by Nike to AFP.

A suspension that concerns single-brand stores

At the beginning of March, a few days after the start of the invasion of Ukraine, Nike had announced the temporary closure of all its directly managed branches in Russia, i.e. 116 stores.

The comma group said that "

its activities remained suspended

" in Russia and that it continued to pay its employees.

Nike's announcement means that the brand is suspending sales of its products in all dedicated stores, that is to say, which only carry its products.

"

In the current situation, we cannot continue to support the activities of single-brand stores and will have to close them

," an IRG spokeswoman told AFP.

Read alsoAdidas in turn suspends its activities in Russia

According to its site, IRG operated 37 stores selling Nike products.

However, according to Vedomosti, it will still be possible to buy items from the American equipment manufacturer through multi-brand stores, which are supplied by wholesalers.

Asked for confirmation, Nike did not respond immediately.

Source: lefigaro

All business articles on 2022-05-25

You may like

Business 2024-04-14T06:31:24.098Z

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.