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Ukraine's Zelenskiy thanks Nike for leaving Russia market

Stock Markets Sep 16, 2022 06:05PM ET
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© Reuters. People walk past a closed store of the sporting goods retailer Nike at a shopping mall in Saint Petersburg, Russia May 25, 2022. REUTERS/Anton Vaganov
 
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(Reuters) - Ukrainian President Volodymyr Zelenskiy said on Friday he had spoken to Nike Inc (NYSE:NKE) and thanked the U.S. sportswear maker for making what he called the "right decision" to pull out of Russia.

"This is an example of how business can play a significant role in protecting humanity and freedom," he said in a nightly video address. "If a state chooses the path of terror, it is the duty of every self-respecting company to distance itself from such a state."

The Ukrainian leader provided no further details. Nike officials were not immediately available for comment.

Russia calls its actions in Ukraine a “special operation.”

Nike told Reuters on June 23 that it was making a full exit from Russia, after saying in March it would temporarily suspend operations at all its Nike-owned and -operated stores in Russia in response to Moscow's actions in Ukraine.

Nike joined other major brands in confirming its complete departure from the Russian market. Samsung Electronics (OTC:SSNLF) Co Ltd, which was the leading supplier of handsets to Russia as of the fourth quarter of 2021, froze shipments in early March citing "current geopolitical developments."

But Izvestia this week quoted a source close to the company as saying sales could resume in October, with supplies of equipment to retailers and a resumption of its official online store. Samsung (KS:005930) said nothing had been decided.

Ukraine's Zelenskiy thanks Nike for leaving Russia market
 

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Comments (2)
Todd Gray
Todd Gray Sep 17, 2022 9:39PM ET
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Putin will start making Pike sneakers this spring.
Michael Chew
Michael Chew Sep 16, 2022 7:45PM ET
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why does Nike got into p.o.l.i.t.i.c.a.l pressure ?
 
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