Nike announced that it making a full exit from Russia, following three months of suspending its operations in the country.
In March, the sneakers and sports apparel company had temporarily suspend operations at all its stores in Russia, in response to the latter’s war on Ukraine. On Thursday, it confirmed its complete exit from there.
Nike’s revenue from Ukraine and Russia combined is less than 1% of the company’s total revenue.
“NIKE has made the decision to leave the Russian marketplace. Our priority is to ensure we are fully supporting our employees while we responsibly scale down our operations over the coming months,” the company mentioned in an emailed statement (according to a CNBC report).