On the 8th (local time), U.S. companies such as McDonald’s, Coca-Cola, Pepsi, and Starbucks also announced their withdrawal plan two weeks after Russia invasion of Ukraine.
McDonald’s CEO Chris Kemptsky said he decided to temporarily suspend operations at 850 stores in Russia, adding that McDonald will continue to evaluate the situation and determine if further measures are needed. Even if the door is closed, 62,000 employees in Russia will continue to be paid.
McDonald’s opened its first store in Moscow just before the collapse of the former Soviet Union. However, as McDona;d’s Russia continued to operate even after invading Ukraine, the “Boycott McDonald’s” craze began to blow around social media.
Starbucks also announced that it will suspend all operations in Russia. As a result, Starbucks stores in Russia will be temporarily closed, and the supply of Starbucks products to Russia will be suspended.
Starbucks CEO Kevin Johnson issued a statement and said that he would donate royalties from Russia to Ukrainian relief organizations.
Coca-Cola and Pepsi also stepped out of the Russian market. Coca-Cola said they are sending comfort to everyone suffering from the tragic incident in Ukraine, and explained that they will suspend operations in Russia.
Earlier, Yum! Brands, a U.S. restaurant company that owns brands such as Pizza Hut, KFC, and Taco Bell, also declared a suspension of investment in Russia, a key market.
Italy’s Ferrari, the epitome of luxury sports cars, said it would no longer sell vehicles to Russia. Ferrari said, “Considering the current situation, we will stop producing vehicles for the Russian market until further announcement is made.”
Sports car maker Lamborghini also announced on the same day that it will suspend its business in Russia, while France’s L’Oreal, the world’s largest cosmetics company, also said it will temporarily suspend all business activities and investment activities in Russia.
