• Loading stock data...
Wednesday, June 18, 2025

Nike Checks Out of Russian Market Amid Ukraine Invasion

  • More than 100 Nike stores in Russia will close their doors.
  • Russia makes up less than 1% of Nike’s total sales.
Nike

Nike has decided to fully remove itself from the Russian market three months after suspending operations in the region following Russia’s invasion of Ukraine. 

In March, Nike cut off online sales to the region, saying it could not “guarantee delivery of goods to customers in Russia.” Now, more than 100 Nike stores in Russia will close their doors. 

Nike joins a growing list of sports-related companies exiting the Russian market. 

  • FIFA: Banned Russia from the 2022 World Cup.
  • Formula 1: Canceled its 2022 Russian Grand Prix.
  • UEFA: Banned Russian teams from the Champions League and Europa League.
  • Wimbledon: No players from Russia and Belarus will be able to participate this year. 

Nike won’t skip a beat despite leaving Russia, which makes up less than 1% of its total sales. The world’s largest athletic apparel retailer generated $10.9 billion in revenue in fiscal Q3, a 5% increase year-over-year, beating analysts’ estimates of $10.6 billion in revenue for the quarter. 

Brand Finance’s annual review revealed that Nike’s brand value jumped 9% to $33.2 billion in 2022, making it the most valuable apparel brand in the world. Last year, Nike’s brand value dropped 13% from 2020 to $30.4 billion, but the company still managed to hold the top spot. 

New Opportunity  

Nike is teaming up with Apple to create a series of sports-focused films. Through a multiyear deal, Apple Original Films will work with Nike’s Waffle Iron Entertainment and Makeready.

The two brands have collaborated in the past on products including the Apple Watch.

Linkedin
Whatsapp
Copy Link
Link Copied
Link Copied

What to Read

Russian hockey

Russia Still Banned From 2026 Winter Olympics, IOC Confirms

Russia men’s hockey won gold and silver in 2018 and 2022, respectively.
Mar 23, 2024; New York, New York, USA; Sneakers worn by New York Knicks guard Jalen Brunson (11) during warmups prior to the game against the Brooklyn Nets at Madison Square Garden.

Nike to Raise Prices on Sneakers Above $100

Kids products and Air Force 1s won’t be affected.
At Dick's Sporting Goods in Fairless Hills, Store Administrative Assistant Christine Vandfermay, of Philadelphia, restocks some Philadelphia Eagles items, Monday, Jan. 30, 2023.

Dick’s Buys Fallen Sneaker Giant With $2.5B Foot Locker Deal

The merger brings together two iconic names in sportswear retail.

Featured Today

Dec 5, 2024; Miami, FL, USA; FIFA president Gianni Infantino presents the FIFA Club World Cup trophy during the Club Word Cup draw at Telemundo Studios.

Revamped Club World Cup Is FIFA’s Billion-Dollar Gamble

The revamped soccer event debuts amid controversy.
Jun 10, 2025; Nashville, Tennessee, USA; United States head coach Mauricio Pochettino stands during the anthem against the Switzerland during the first at Geodis Park
June 14, 2025

Gold Cup Is Complicated for USMNT—but U.S. Soccer Has Its Eyes on..

Uncertain tournament success isn’t fazing forward-looking U.S. soccer.
Jan 24, 2017; Davidson, NC, USA; The Davidson Wildcats student section cheers during the first half against the Duquesne Dukes at McKillop Court at John M. Belk Arena. Davidson defeated Duquesne 74-60.
June 6, 2025

Every College Wants a Flashy Basketball GM Hire Right Now

The role is more important than ever, and the definition is ever-evolving.
August 31, 2024; Columbus, Ohio, USA; The Goodyear blimp flies over Ohio Stadium during the first half of Saturday’s NCAA Division I football game between the Akron Zips and the Ohio State Buckeyes.
June 6, 2025

Why the Goodyear Blimp Is at Every Major Sports Event

The airship wasn’t built to cover sports. Now it’s a regular presence.
AA Mint Cards

Young Collectors Are on a High-Stakes Chase for Ultra-Rare Trading Cards

“They just want that excitement of the chase,” says a 23-year-old collector.
Feb 3, 2025; New Orleans, LA, USA; Super Bowl LIX signage at the Hyatt Hotel.
February 4, 2025

New Orleans Home Rentals Skyrocket Around Super Bowl

Short-term rental revenue has already reached $10.5 million.
March 11, 2025

Dick’s Faces Investor Concerns Over Tariffs Despite Record Quarter

The prominent retailer offers an uncertain outlook due to economic challenges.
Sponsored

Game On: Portfolio Players Stories, Brought to You by E*TRADE from Morgan Stanley

Ted Leonsis unpacks basketball’s global rise, media rights, and portfolio ownership.
November 4, 2024

Super Bowl Ads Sell Out Three Months Early, at Record Price

Ad units are believed to be selling at more than $7 million per 30 seconds.
October 18, 2024

Skechers Wasn’t Cool. Then NBA Stars Started Wearing Them

The brand is not traditionally cool. Embiid, Randle, and others don’t care.
October 17, 2024

Netflix Shares Rise on Strong Earnings As Christmas NFL Games Lie Ahead

The next two months will include the Tyson-Paul fight and the NFL Christmas Day games.