9 years ago
2
Adidas to close 200 shops in Russia
For Adidas, "Impossible is nothing." Except when it comes to making money in Russia. Adidas announced it would close 200 shops across Russia due to the poor economic situation in the country. The double whammy of cheap oil and Western sanctions sent Russian economy tanking. The ruble has collapsed -- losing 40% against the dollar in just six months. GDP is expected to shrink by 5% this year, inflation is soaring.
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http://money.cnn.com
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Long time coming,.
Aren't the Russians their biggest wearers of their track suits, etc?