Starbucks left the Russian market.
In a note to employees Monday, the Seattle coffee giant said it had decided to close 130 of its stores and no longer had the brand in Russia. Starbucks said it will continue to pay 2,000 Russian employees over six months and help them move into new jobs.
The Starbucks move follows the release of McDonald’s From the Russian market last week. McDonald’s sells its stores – which are owned by almost every company – for an existing Russian franchise. Stores cannot use the McDonald’s name or menu.
Starbucks stores are owned and operated by Alshaya Group, a franchise operator based in Kuwait. A spokesman for Alshaya asked Starbucks on Monday.
Starbucks entered the Russian market in 2007. In early March, following Russia’s invasion of Ukraine, Starbucks announced that it would continue to open its stores in Russia but would introduce humanitarian aid revenues to Ukraine.
But a few days later – after Coca -Cola, PepsiCo, McDonald’s and others temporarily suspended their business in Russia – Starbucks changed course and temporarily closed Russian stores.
“Through this dynamic scenario, we will continue to make decisions in accordance with our mission and values and clearly share,” the CEO of Starbucks Corp. wrote. Kevin Johnson in a message to staff.
Source: Huffpost
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