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Asharq Al-Awsat
Asharq Al-Awsat
Lifestyle
Asharq Al-Awsat

Nike Not Renewing Franchise Agreements in Russia, Says Newspaper

NIke United States Russia Vedomosti IRG Ukraine Moscow
A pair of shoes during a immersive exhibition showcasing 47 limited editions of the Nike "Air Force 1" sneaker created by Virgil Abloh in partnership with Nike for Louis Vuitton May 20, 2022 at the Greenpoint Terminal Warehouse in Brooklyn, New York. (AFP)

US sportswear maker Nike has not renewed agreements with its largest franchisee in Russia, the Vedomosti daily reported on Wednesday, marking the latest exit by a major US brand since Russian forces entered Ukraine.

Nike said on March 3 it would temporarily suspend operations at all its Nike-owned and -operated stores in Russia in response to Moscow's actions in Ukraine and has said that those still open are operated by independent partners.

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