From Pepsi To Pizza Hut, Here's A List Of Brands That Have Halted Operations In Russia So Far
Among other major brands PepsiCo, Coca-Cola, McDonald's and Starbucks have said they will temporarily stop selling their products and close all of their outlets in Russia in response to the country's invasion of Ukraine.
This comes after these major western food and drink companies?had been facing threats of boycotts for failing to pull out of Russia in protest at the war.?
The companies were severely criticised for their failure to speak out about the invasion, and for continuing to operate in Russia, while a host of other firms such as Netflix, Levi¡¯s, Burberry and Ikea have halted business in the country. However, it seems?McDonald¡¯s, Coca-Cola, PepsiCo have succumbed to the pressure and halted operations in Russia temporarily.?
Let's take a look at all the brands which have stopped operations in Russia so far.
1) McDonald's
McDonald's has said all 850 of its restaurants in the nation will close their doors - but it will continue to pay the 62,000 people who work for them there.McDonald's owns 84% of its restaurants in Russia, and they contributed 9% of the company's revenue last year.
In a letter to employees, the company's president and CEO Chris Kempckinski said closing the outlets is the right thing to do because they cannot ignore the "needless human suffering in Ukraine".
2) Starbucks
Just hours later, Starbucks announced it was "suspending all business activity in Russia, including shipment of its products and cafes run by a licensee".The company said Kuwait-based Alshaya Group, which operates at least 100 Starbucks cafes in Russia, will "provide support to the nearly 2,000 partners who depend on Starbucks for their livelihood".
3) Coca-Cola
Coca-Cola followed suit announcing it was "suspending its business in Russia".A company statement added: "Our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine."We will continue to monitor and assess the situation as circumstances evolve."
4) PepsiCo
PepsiCo will suspend all advertising in Russia and stop the sale of its drinks brands. Pepsi, based in Purchase, New York, said it will suspend sales of beverages in Russia. It will also suspend any capital investments and promotional activities.
But the company said it will continue to produce milk, baby formula and baby food, in part to continue supporting its 20,000 Russian employees and the 40,000 Russian agricultural workers who are part of its supply chain.
¡°Now more than ever we must stay true to the humanitarian aspect of our business,¡± PepsiCo CEO Ramon Laguarta said in an email to employees.
5) KFC and Pizza Hut
Yum Brands, the parent company of KFC and Pizza Hut, said late Tuesday it planned to temporarily close 70 company-owned KFC restaurants in Russia. The company said it was also in talks with a franchisee to close all 50 Pizza Hut restaurants in Russia.
It had announced on Monday that it was donating all of the profits from its 1,050 restaurants in Russia to humanitarian efforts. It has also suspended new restaurant development in the country.?
6) Unilever
Unilever has suspended all imports and exports of its products into and out of Russia, and said that it will not invest any further capital into the country.The company condemned the war in Ukraine as "a brutal and senseless act by the Russian state".
It said it will continue to supply everyday essential food and hygiene products that are made in Russia to people there, but will keep that under review.
7) General Electric
General Electric also said in a Twitter post that it was partially suspending its operations in Russia. GE said two exceptions would be essential medical equipment and support for existing power services in Russia.
Major technology firms like Apple, Microsoft and Samsung, and businesses including Visa, Paypal and Netflix have shuttered operations or cut ties with Russia over its invasion of Ukraine.
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