After Vladimir Putin ordered an invasion of Ukraine on February 24, several global brands have exited Russia, including many household name brands. International sanctions, supply chain disruptions, and consumer backlash have made it impossible for foreign companies to continue their operations in Russia.
We have referred to several online and offline sources to come up with ten major consumer goods companies exiting Russia following its invasion of Ukraine. Following are ten major consumer goods companies exiting Russia following its invasion of Ukraine, in reverse order.
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Swatch Group
Founded in 1983 and headquartered in Biel, Switzerland, this company designs makes, and sells watches, jewelry, watch movements, and components. Swatch Group (OTC:SWGAY) has the following segments: Watches & Jewelry and Electronic Systems. Its shares (ADR) are down over 17% in the last month but are up almost 1% in the last five days. The company reported revenue of over $7 billion in 2021. Swatch has suspended exports and retail operations in Russia.
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Sony
Founded in 1946 and headquartered in Tokyo, Japan, this company develops, designs, makes and sells electronic equipment, game consoles, instruments, and software. Its shares are down over 9% in the last month but are up over 1% in the last five days. Sony Group Corp (NYSE:SONY) has suspended all software and hardware shipments to Russia.
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Nike
Founded in 1964 and headquartered in Beaverton, Ore., this company designs, develops, markets, and sells athletic footwear, apparel, equipment, and accessories. Its shares are down over 13% in the last month and over 1% in the last five days. The company reported revenue of over $44 billion in 2021. Nike Inc (NYSE:NKE) said it is temporarily shutting down all its stores, as well as apps and websites in Russia.
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IKEA
Founded in 1943 and headquartered in Delft, Netherlands, this company designs and sells ready-to-assemble furniture, home accessories, kitchen appliances, and other goods and home services. IKEA has closed all its Russian stores and paused sourcing from Russia and its ally, Belarus. The Swedish furniture company said,
"The war has both a huge human impact and is resulting in serious disruptions to supply chain and trading conditions, which is why the company groups have decided to temporarily pause IKEA operations in Russia,”
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Estee Lauder
Founded in 1946 and headquartered in New York, this company makes skincare, makeup, fragrance, and hair care products. Its shares are down over 13% in the last month but are up almost 1% in the last five days. The company reported revenue of over $16 billion in 2021. Estee Lauder Companies (NYSE:EL) said it is suspending commercial activity in Russia, including stores, brand sites, and shipments.
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Disney
Founded in 1923 and headquartered in Burbank, Calif., it is a family entertainment and media enterprise that operates through DPEP (Disney Parks, Experiences and Products) and DMED (Disney Media and Entertainment Distribution). Its shares are down almost 13% in the last month and over 1% in the last five days. The company reported revenue of over $67 billion in 2021. Walt Disney Co (NYSE:DIS) said it would suspend all business operations in Russia.
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Carlsberg
Founded in 1847 and headquartered in Copenhagen, Denmark, this company makes and markets craft, specialty, and non-alcoholic beer. Carlsberg (OTC:CABGY) sells its products under the following brands: Carlsberg, Baltika, Tuborg Green, Somersby Cider and 1664 Blanc. Its shares (ADR Rep B Shares) are down almost 25% in the last one month and almost 1% in the last five days. The company reported revenue of over $66 billion in 2021.
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Budvar
This Czech brewer Budvar has halted beer deliveries to Russia, one of its five major markets. The company says it is working on ways to help, including finding accommodations for Ukrainian refugees.
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Airbnb
Founded in 2007 and headquartered in San Francisco, this company manages and operates an online marketplace that connects hosts and guests to book spaces. Its shares are down almost 13% in the last month but are up almost 2% in the last five days. The company reported revenue of almost $6 billion in 2021. Airbnb Inc (NASDAQ:ABNB) has paused all its operations in Russia.
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Adidas
Founded in 1920 and headquartered in Herzogenaurach, Germany, this company designs distributes and markets athletic and sporting lifestyle products. Its shares (ADR) are down almost 18% in the last month but are up almost 9% in the last five days. The company reported revenue of over $21 billion in 2021. Adidas (OTC:ADDYY) has suspended its operations at stores and online in Russia.