Share
Starbucks is pulling out of the Russian market.
In a memo to employees Monday, the Seattle coffee giant said it decided to close its 130 stores and no longer have a brand presence in Russia. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs.
Starbucks’ move follows McDonald’s exit from the Russian market last week. McDonald’s is selling its stores __ which are almost all owned by the company __ to an existing Russian franchisee. The stores won’t be allowed to use McDonald’s name or menu.
Starbucks’ stores are owned and operated by Alshaya Group, a Kuwait-based franchise operator. A spokesperson for Alshaya referred questions to Starbucks on Monday.
Starbucks entered the Russian market in 2007. In early March, after the Russian invasion of Ukraine, Starbucks announced that it would keep its Russian stores open but donate any profits to humanitarian relief efforts in Ukraine.
But a few days later __ after Coca-Cola, PepsiCo, McDonald’s and others temporarily halted their business in Russia __ Starbucks changed course and temporarily closed its Russian stores.
“Through this dynamic situation, we will continue to make decisions that are true to our mission and values and communicate with transparency,” then Starbucks Corp. CEO Kevin Johnson wrote in a message to employees.
RELATED TOPICS:
Tulare County’s Lake Success Spillway Expansion Completed, Celebrated
43 minutes ago
Fresno Animal Center to Offer Free Adoptions for California Adopt-a-Pet Day
44 minutes ago
Hegseth Orders the Name of Gay Rights Activist Harvey Milk Scrubbed From Navy Ship
16 hours ago
Knicks Fire Coach Tom Thibodeau After First Eastern Conference Finals Berth in 25 Years
16 hours ago
After Years of Undrinkable Water, Our Rural California Community Finally Has Hope
20 hours ago
Pressure Mounts on Netanyahu as Opposition Moves to Dissolve Parliament
12 minutes ago
Categories

Pressure Mounts on Netanyahu as Opposition Moves to Dissolve Parliament

Trump’s Big Bill Will Cut Taxes by $3.7T and Add $2.4T to Deficit, Budget Office Says

Dollar Slips After Data Disappoints, Trump Calls for Rate Cut

Tulare County’s Lake Success Spillway Expansion Completed, Celebrated

Fresno Animal Center to Offer Free Adoptions for California Adopt-a-Pet Day

Hegseth Orders the Name of Gay Rights Activist Harvey Milk Scrubbed From Navy Ship
