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BAKU, Azerbaijan, Might 25. Nike didn’t renew
the franchise settlement with Ingenious Retail Group (IRG), which
owns Russia’s largest single-brand chain of shops of Nike, says a
letter from IRG President Tikhon Smykov to the corporate’s workers,
Development stories
in line with “Vedomosti”.
He explains this choice by the truth that Nike can not set up
deliveries of products to Russia “within the foreseeable future”. “As
stock is depleted, IRG might be pressured to shut all of its
shops below this model,” writes Smykov.
IRG PR director Lyudmila Semushina confirmed that the availability of
Nike merchandise was suspended, and the products themselves have been briefly
provide. “Within the present realities, we can not proceed to assist
the work of mono-brand shops and might be pressured to shut them,”
she mentioned.
The non-renewal of the settlement with IRG as an entire could imply
Nike’s exit from the Russian market, Marina Malakhatko, director of
the Core.XP retail division, believes. In March 2022, the corporate
already acknowledged that it “can not assure the supply of products to
prospects in Russia.” İt stopped deliveries, the operation of the
Russian on-line retailer and supply to the area, and in addition
quickly closed all shops below direct management. From March to
Might, the variety of Nike single-brand shops in Russia has already
dropped from 116 to 56, in line with the corporate’s official
web site. Of those, 19 are quickly closed.
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