Adidas decided to close this year to 200 stores in Russia due to the fall of the ruble and sanctions

The German company Adidas AG, has the rights to trademarks of Adidas and Reebok, will close in Russia, one-third more stores than planned at the beginning of the year, 200 instead of 160. This was announced by the chief Executive officer of the Kasper group of Worsted and chief financial officer Harm, Almayer at the conference with investors in the third quarter of 2017, the newspaper «Vedomosti».

The first major reduction in the number of stores in Russia, Adidas held in 2015. Then closed about 200 outlets. In the company is explained by the deterioration of the economic situation in the country and the fall of the ruble. In 2016, stopped working 80 stores.

According to Allmayer, as of November Russia has already closed 140 stores, and the number of employees in Russia for the year decreased by 10%.

The main reason for the reduction of the presence on the Russian market the company called the loss factor. In January–September of this year, Adidas sales grew in all markets except for Russia and the CIS, where the number fell by 17%.

Almayer assured that the company is ready to increase the number of stores in Russia will grow if the price of oil or sanctions will become less noticeable.

In connection with the closing of stores at Adidas want to bet on sales via the Internet.

In may, the representative of the Russian office of the company Mikhail Mashtakov said RBC that the country had 840 retail outlets.

In March 2014 Russia annexed the Ukrainian Peninsula of Crimea, and in April the beginning of the armed conflict in the Donbass. Against Russia was imposed economic sanctions by the United States, the European Union and some other countries in the spring of 2014. The sanctions packages several times expanded and tightened.

2 Aug 2917 year, the President of the United States Donald trump endorsed the introduction of new sanctions against Russia.

Adidas decided to close this year to 200 stores in Russia due to the fall of the ruble and sanctions 13.11.2017

Ноябрь 13th, 2017 by
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