BERLIN, (Reuters) -The German sportswear brand Adidas (OTC) stated that its Russian operations would be halted by the War in Ukraine. It said its sales will fall to up to 250 million Euros ($273.10 Million) and it hopes to see a turnaround in China.

Adidas predicts a rise in currency neutral sales between 11-13% in 2022. This includes the risks to its businesses in Russia and Ukraine. Greater China is expected to experience sales growth in the single digits following a consumer boycott in 2021.

Adidas announced Monday that it had suspended all operations in Russia of its online and retail stores until further notice. The Russian branch has approximately 500 shops, which is a quarter the number.

Adidas claimed that the 250m euros at stake represented approximately 1 percentage point growth and was half of its total revenue in the region.

According to the company, its net income from ongoing operations will grow between 1.8 billion to 1.9 billion by 2022. This is up from 1.492 trillion in 2021.

Adidas reported that currency neutral sales fell 3% to 5.137 billion euro in the fourth quarter. This was exacerbated by 24% lower exports from Greater China.

Adidas has named Adrian Siu its new Greater China head.

Chinese customers boycotted Western brands, including Adidas. They criticised the companies that said they wouldn’t source cotton from Xinjiang following reports about human rights violations against Uyghur Muslims. Beijing has denied all allegations.

($1 = 0.9154 euros)