Another global brand is exiting the Russian market for good, stating it will 'responsibly scale down' operations over the coming months.
on Thursday, becoming the latest multinational firm to abandon operations in the country since its invasion of Ukraine.SOPA Images/LightRocket via Getty ImagesNike’s decision to leave the Russian market comes three months after it paused its retail operations in the country., Nike said it will “responsibly scale down” operations over the coming months while supporting its employees in the country.
The move is likely to have very little impact on the company’s bottom line as income from Russia and Ukraine accounts for less than 1% of Nike’s overall revenue, the report adds.
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