Adidas, Nike, Puma close stores and ecommerce sites in Russia

Adidas AG suspended its operations of stores and e-commerce site in Russia until further notice, following other athletic-wear makers like Puma SE and Nike Inc. as a reaction to the country’s invasion of Ukraine.

The German sports company said in a LinkedIn post on Monday that it will continue paying its employees in Russia.

For the latest headlines, follow our Google News channel online or via the app.

Adidas said in its 2020 annual report that 13 percent of its about 62,000 employees were based in Russia and the CIS region. The company suspended its partnership with the Russian Football Union on March 1.

Puma announced last week that it was pausing operations of all its stores in Russia, and Nike said it would temporarily close its stores there.

Russia’s invasion of Ukraine has brought global condemnation, trade restrictions and financial penalties, as well as the departure of some of the world’s most iconic brands.

Read more:

Nickel soars to record above $100,000 per tonne over Russian output concerns

Carmakers face soaring metal costs with supplies at risk from Russia

Russian crypto trading continues even as sanctions tighten