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Although Nike announced in early March that it would withdraw from the Russian market and close its online stores, some brand stores are still open. From March to may, the number of Nike's single brand stores in Russia has dropped from 116 to 56, of which 19 are temporarily closed.

According to the contents of a letter sent by smekov, President of inventive retail group (IRG), to the company's employees, Nike, a US clothing and footwear manufacturer, has not renewed its franchise agreement with IRG. It is reported that Nike has not renewed its franchise agreement with IRG, which owns the single brand chain store of the largest American retailer in Russia. Smekov explained that the decision was because Nike could not organize the supply of goods to Russia in the foreseeable future.

It is reported that the public relations manager of IRG company confirmed that the supply of Nike products has been suspended and the products themselves are in a shortage. She said the company would not be able to continue to operate single brand stores and would be forced to close them.

Russian partners operate 37 Nike stores

IRG president said that under such circumstances, Nike would not be able to arrange shipment to Russia "in the foreseeable future".

"After the inventory runs out, IRG will have to close all stores under the brand," smykov wrote, adding that the news was a blow to all employees. Ludmila semushina, the group's head of public relations, confirmed that the delivery of Nike products had been suspended and that there were no products in the franchise stores that were still open.

Ukrinform wrote that IGR manages 37 Nike franchise stores, but 9 of them have not been open for some time.

In March, most foreign companies temporarily closed their operations in Russia.

These companies hope that the situation in Ukraine can be quickly stabilized and normal trade may be resumed. However, as it seems that everything is not as expected, more and more headquarters decide to leave Russia eventually. On Monday, Starbucks announced that it would eventually close all its stores.

Starbucks, McDonald's... hundreds of foreign companies evacuated

A study by Yale University in the United States shows that since the outbreak of the conflict between Russia and Ukraine, hundreds of foreign companies have said to withdraw from the Russian market, involving it, retail, catering, finance, film distribution and other fields.

According to the statistics of the study, as of May 24, 329 foreign companies had decided to completely withdraw from Russia, and another 446 foreign companies announced to reduce most or all of their businesses, but reserved the opportunity to return to the Russian market.

When these foreign enterprises announced their withdrawal, they had different strategies to avoid too much "hurting the muscles and bones".