Starbucks retreats from Russia
Coffee chain Starbucks is leaving Russia after 15 years, following the country's invasion of Ukraine, and will no longer have a brand presence in the country.
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Starbucks has 130 stores in Russia, which are wholly owned and operated by a licensed partner. In March, Starbucks decided to suspend all business activity in Russia, including shipment of all Starbucks products. Its licensed partner also agreed to pause store operations.
"As we mentioned on March 8, we have suspended all business activity in Russia, including shipment of all Starbucks products. Starbucks has made the decision to exit and no longer have a brand presence in the market.
"We will continue to support the nearly 2,000 green apron partners in Russia, including pay for six months and assistance for partners to transition to new opportunities outside of Starbucks," Starbucks said in a statement.