Nike and Mark&Spencer finally leave the Russian market | World Fashion Channel

Nike and Mark&Spencer finally leave the Russian market

Fashion
Read min

25 May 2022

The American company Nike, which produces sportswear, announced that it was impossible to supply new products to Russia due to sanctions and did not renew the contract with its franchisee Inventive Retail Group (IRG). In the coming weeks, Nike stores will sell leftover goods from warehouses, and when it runs out, all stores under this brand will be closed, company management said.

Information about the suspension of deliveries of Nike clothing to Russia was also confirmed by the PR director of IRG, Lyudmila Semushina. “In the current situation, we cannot support the work of mono-brand stores and will be forced to close them,” she said.

At the same time, Nike products will continue to be sold in Russian multi-brand stores, while Nike does not leave neighboring Belarus at all, deliveries to Minsk stores are made regularly. Employees confirm that logistics has become more difficult, but everything is working as before.

Following Nike, the British fashion brand Marks & Spencer also announced its exit from the Russian market.The company has decided to close all branded stores in the country amid sanctions and pressure from the West. In March 2022, Marks & Spencer already closed part of its stores in Russia, but about 50 continued to operate due to the peculiarities of franchisee agreements. Today it became known about the final departure of the brand from the domestic market.

Recall that after the start of the Russian special operation in Ukraine, due to the imposed sanctions, such brands as H&M, Zara, Calvin Klein, Chanel and others announced their withdrawal from the Russian market. Some companies sold their businesses and remained under new names.

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