Russia has created major obstacles for foreign companies seeking to leave, but some firms have stayed on, making money and grabbing market share, despite promising to pull out.
Shortly after the invasion, Atlanta-based Coca-Cola said it was “suspending its business in Russia.” Coca-Cola HBC, a Swiss-based bottler stopped making Coca-Cola in Russia and “transitioned” one Russian subsidiary, Coca-Cola HBC Eurasia, into another, Multon Partners, in August.But Coca-Cola HBC’s Russian firm still operates 10 factories producing Dobry Cola and other profitable brands, Rich and Moya Semya.
In fact, the two most popular cola brands on Russian shelves in January and February were Dobry Cola, with more than 33 percent, and Coca-Cola , 14 percent, according to the analysis firm Prodazhi.rf as cited by RBC, a Russian newspaper. “We see that Kremlin-linked oligarchs like using the opportunity to buy the most interesting assets at a cheap price,” Onopriienko said.
Ikea, an iconic brand for middle-class Russians, run by the Ingka Group of Sweden, stopped production and sales days after the invasion. But Ingka’s other company in Russia, Mega, still operates 14 shopping malls. In a statement, the company said its shopping centers, “remain open to ensure that people have access to the things they need.”Ikea only recently won Russian government approval to sell its four furniture factories to Russian companies after a long process.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China vows not to sell arms to any party in Ukraine warChina won't sell weapons to either side in the war in Ukraine, the country's foreign minister said Friday, responding to Western concerns that Beijing could provide military assistance to Russia. China has maintained that it is neutral in the conflict, while backing Russia politically, rhetorically and economically at a time when Western nations have imposed punishing sanctions and sought to isolate Moscow for its invasion of its neighbor. Qin Gang is the highest-level Chinese official to make such an explicit statement about arms sales to Russia.
Read more »
Remember When John Carpenter Directed a Horror Western?'Vampires' remains an under-watched entry in John Carpenter's filmography.
Read more »
Some flights to Western Alaska canceled due to Kamchatka eruptionAlaska Airlines has canceled some flights to Western Alaska today due to ash from a volcanic eruption in Kamchatka reaching Alaska, after grounding eight flights yesterday.
Read more »
Western and Eastern classical music come together for Saskatoon Symphony Orchestra concertThe SSO performs Vibrant Light on April 15 at TCU Place.
Read more »
In pictures: 2023 Rhythmic Western Regional Championships in ReginaGymnastics Saskatchewan, which is hosting, has 24 athletes in the competition.
Read more »
Cyclone Ilsa sets a new wind record as it smashes into Australia's western coast | CNNCyclone Ilsa smashed into a remote stretch of coast in Western Australia around midnight Thursday local time with wind speeds that broke previous records set more than 10 years ago in the same place.
Read more »