6.3 C
London
Tuesday, November 29, 2022

Starbucks and Coca-Cola are latest brands to halt business in Russia

Must read

The Antler Investor Memo Series: Acanthis helps small business owners understand the fundamentals of their success

Early-stage investment firm Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup...

Apple Music’s year-end review, Replay, is slightly better this year

The best of 2022 lists and year-end recaps are just around the corner, including Spotify Wrapped, the streaming platform's flashy interactive feature that's become...

Top 10 Most Famous Star Kids You Should Know

As an audience, we're always very interested in knowing what our favorite stars are up to. We like to keep ourselves updated by...

See you in Boston for londonbusinessblog.com’s annual Founder Summit

londonbusinessblog.com early phase - our premier event designed for budding entrepreneurs and founders at the beginning of their startup journey - returns by popular...
Shreya Christinahttps://londonbusinessblog.com
Shreya has been with londonbusinessblog.com for 3 years, writing copy for client websites, blog posts, EDMs and other mediums to engage readers and encourage action. By collaborating with clients, our SEO manager and the wider londonbusinessblog.com team, Shreya seeks to understand an audience before creating memorable, persuasive copy.
S

tarbucks and Coca-Cola are the latest big brands to announce they are suspending business operations in Russia as the invasion entered its 13th day.

The companies joined McDonald’s in announcing similar decisions to halt work in the country on Tuesday.

Starbucks said it was suspending all business activity in Russia including shipment of all its products.

In a letter to partners, chief executive Kevin Johnson wrote: “As I communicated Friday, we condemn the horrific attacks on Ukraine by Russia and our hearts go out to all those affected.

“We continue to watch the tragic events unfold and, today, we have decided to suspend all business activity in Russia, including shipment of all Starbucks products.

“Our licensed partner has agreed to immediately pause store operations and will provide support to the nearly 2,000 partners in Russia who depend on Starbucks for their livelihood.

“Through this dynamic situation, we will continue to make decisions that are true to our mission and values and communicate with transparency. Thank you for the care and concern you are sharing with me and your leaders.”

Less than an hour later, Coca-Cola also said it would suspend business in Russia.

The soft drinks giant said in a statement that “our hearts are with the people who are enduring unconscionable effects from these tragic events in Ukraine”.

It added: “We will continue to monitor and assess the situation as circumstances evolve.”

McDonald’s, Starbucks and Coca-Cola were among those criticised on social media for failing to speak out about the attacks and continuing to operate in the country, with many threatening to boycott it unless it took action.

The fizzy drinks company had been facing mounting pressure from customers to pull out of Russia, with #BoycottCocaCola trending on Twitter over the last few days.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

The Antler Investor Memo Series: Acanthis helps small business owners understand the fundamentals of their success

Early-stage investment firm Antler Australia recently backed a new cohort of startups as part of its ongoing program to build great local tech companies. Startup...

Apple Music’s year-end review, Replay, is slightly better this year

The best of 2022 lists and year-end recaps are just around the corner, including Spotify Wrapped, the streaming platform's flashy interactive feature that's become...

Top 10 Most Famous Star Kids You Should Know

As an audience, we're always very interested in knowing what our favorite stars are up to. We like to keep ourselves updated by...

See you in Boston for londonbusinessblog.com’s annual Founder Summit

londonbusinessblog.com early phase - our premier event designed for budding entrepreneurs and founders at the beginning of their startup journey - returns by popular...