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Russia: Pernod Ricard Discontinues Export of All Drinks

Russia: Pernod Ricard Discontinues Export of All Drinks Food and Beverage Business

Pernod Ricard Ceases Exports of International Brands to Russia

Pernod Ricard has confirmed that it will stop all exports of its international brands to Russia by the end of April 2023. The drinks giant will cease distribution of its portfolio in Russia, with the company expecting the process to take several months to complete. This decision marks a further retreat after Pernod Ricard suspended exports of its Absolut vodka to Russia in April 2022, following criticism in Sweden.

Pernod Ricard’s spokesperson said that the company would keep a “limited team” in Russia to eventually resume business in the future. However, downsizing local operations would result in the loss of around 300 jobs in the country.

Pernod Ricard Prioritizes Employee Welfare and Legal Compliance

In a statement published on its website, Pernod Ricard said that it is assessing how to adapt its local organization in compliance with local legal regulations while prioritizing the welfare of its teams wherever they are based. According to Stephanie Durroux, CEO of the Absolut Company, activity in Russia had been “strongly reduced” since Pernod Ricard halted operations in March 2022, and marketing investments have been stopped.

As a leading global player in the beverage space, Pernod Ricard’s decision to cease its exports to Russia is a significant move that could affect the local alcohol market. While the company has not cited any specific reasons for the decision, some industry experts speculate that it could be due to political tensions between Russia and other countries.

Conclusion

In conclusion, Pernod Ricard’s decision to cease its exports of international brands to Russia highlights the company’s commitment to legal compliance and employee welfare. The decision will have significant implications for the alcohol market in Russia, with Pernod Ricard’s Absolut vodka and other international brands no longer available in the country.

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