PARIS (BRAIN) — Global sports retailer Decathlon is the latest company to announce it will suspend its business in Russia due to the Ukraine invasion. Most other brands involved in cycling have done the same.
"In the dramatic context of Ukraine, we are following the evolution of events and particularly the situation of those directly affected," the company said in a statement Tuesday. "Our efforts immediately focused on the safety and support of our 125 Ukrainian teammates, who also benefited from the solidarity of their colleagues in neighboring countries to help them find accommodation, or even to welcome them into their homes or to help them with their administrative procedures."
The company said its business unit in Poland is processing donations to Ukrainian nonprofits. The company said it has donated "equipment and essential products worth €2.6 million ($2.9 million)" and has said it has set up a "a solidarity fund with €1 million to date to support the affected populations."
The company has suspended operations at its stores but said it will continue to support 2,500 Russian employees, some of whom have been involved in the company since 2006.
Decathlon is the world's largest sports retailer and does substantial business in the cycling market, mostly selling its branded products. It has closed its two stores in California and is focusing on online sales through its own site and through retailers including Target in the U.S.
