Nike

The Sporting fashion company, Nike has announced its fresh plans about not renew licensing agreements in Russia. The company made these announcements on Wednesday while joining a growing list of Western companies pulling back from the country following the Ukraine invasion of Ukraine.

The move affects licensed retailers as Nike closed all its company-owned stores two months ago soon after Moscow sent troops into the neighboring country.

“Due to operational challenges in Russia, Nike has made the decision not to renew or enter into any new business commitments, including with our franchisee Up&Run,” the company said.

“Our business remains on