Nike announced its final withdrawal from the Russian market

The American shoe and clothing manufacturer Nike has announced its final withdrawal from the Russian market. The company has been operating in Russia since 1993. In March, Nike stopped deliveries, stopped the operation of the Russian online store and delivery to the region, and temporarily closed all directly operated stores.

In May, Vedomosti, citing sources, wrote that Nike did not renew the franchise agreement with Inventive Retail Group, which owns the brand's largest chain of stores in the country. Experts then noted that it was now impossible to quickly replace Nike in Russia with a similar global brand.

Now the company, according to Reuters , has sent out a letter in which it announced a complete withdrawal from the Russian market within a few months.

Despite the departure of the company, products under the Nike brand will most likely not disappear from the Russian market at all, Vedomosti wrote. Since wholesale distributors continue to work, it will be possible to buy it in multi-brand stores, experts interviewed by the publication noted. In addition, if Nike's contract with the franchisee does not prohibit purchases from a non-official importer, then in this case the question of parallel imports arises.