MILAN, Italy (BRAIN) — Most bike suppliers tell BRAIN they have stopped doing business in Russia following the country’s invasion of Ukraine. The decision to end business there is due to the difficulty of operating under banking sanctions and the voluntary decision by some shipping companies to stop delivering in Russia. Or a happy coincidence of both.
“The Russia decision is mostly due to our inability and the risk with payments but I would say that there’s a social aspect too,” the president of one parts and accessories brand told BRAIN.
A few large companies that do business in the bike market (but are not primarily bike industry suppliers) continue to have some presence in the country. That includes the French retailer Decathlon, Italian tire manufacturer Pirelli, and German manufacturer Bosch.
SRAM, Trek, Specialized, Tern and QBP each told BRAIN they have stopped doing business in Russia. Giant, Shimano, and Pon did not respond to BRAIN’s inquiry about their Russian business, while Orbea declined to comment.
Vista Outdoor, the owner of Bell, Giro, and Blackburn, has not released a statement about its bike brands’ presence in Russia. But the company, which owns several ammunition brands, is donating 1 million rounds of ammo to the Ukraine armed forces and is donating proceeds from the sale of a special T-shirt to a Ukraine refugee fund.
Pirelli and Decathlon each appear on a list of 33 global companies that have declined to exit their Russia businesses or reduce their activities there, according to a list maintained by […]