The economic crisis and sanctions have not made life easier for international corporations working in Russia. But there’s still a way to reap the rewards of changing economic conditions. One potential strategy is to localize. Last week German sportswear company Adidasrevealedplans to close 160 stores across Russia by the end of 2017. The multinational corporation has been scaling back business in the country for the last three years - with many shops already shut down - as consumer demand continues to tail off amid the economic crisis. According to sources close to the company, Adidas has been rethinking its business strategy since 2014 and the closures represent. Read more...
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