Russia, the target of the whole world after the invasion of Ukraine, because of the sanctions. to manufacturers of foreign origin and giant companies; He started to say goodbye. One of them was the French car giant Renault. Renault halted production at its plant in Russia after the sanctions and said options were being explored to continue production.

In the announcement shared today, it was announced that all of Renault’s assets in Russia were being transferred to Moscow’s management, while similar news From sportswear giant Reebok came. According to the news shared by Russia-based Kommersant newspaper, Turkey-based FLO Mağazacılık has acquired Reebok’s Russian division.

Reebok Russia handed over to FLO

According to the news based on close sources from FLO Mağazacılık, with the completion of the agreement, FLO took control of more than 100 Reebok stores in Russia. While there are no details on the deal’s value, analysts who spoke to the Russian newspaper said the deal 1.5 billion rubles (about $24.8 million) He said it might be worth it.

The partnership agreement between Reebok and FLO was shared in recent days.

The news shared by Yeni Şafak on May 12 mentioned an agreement between Reebok and FLO, but no information was given that it would be transferred in full. Under that agreement, Reebok and FLO Produced by FLO, Distribution and sales to 12 countries had agreed.

Burak Övünç, CEO of FLO Retailing, announced in his statement that Reebok has acquired the licensing rights in Turkey and 12 other countries. to boast, on similar collaborations He also stressed that talks are underway.

Then why are deals being made?

With these agreements, foreign companies can have the opportunity to continue their activities in Russia. It is possible to continue to provide services through countries that do not impose sanctions on Russia. For example, with the latest agreement, Reebok is part of FLO Mağazacılık rather than withdrawing completely from Russia. able to maintain its presence in Russia†