May 23, 2022
Starbucks withdraws name from Russia after 15 years
Starbucks Corp is withdrawing its brand from Russia after 15 years, the latest Western corporation to quit the country after the war in Ukraine. The coffee chain said it would wind down its business in Russia, after suspending operations there in March. Starbucks entered Russia in 2007 and had grown to include 130 coffee shops, owned and operated by a licensee. It did not give details of the financial impact of the decision, but said it would continue to pay nearly 2,000 staff at Starbucks shops in the country for six months and provide assistance to partners "To transition to new opportunities outside of Starbucks". The Kuwait-based Alshaya Group, which owns and operates the Starbucks stores, said the decision to leave was a "Starbucks announcement" and referred questions to the coffee chain.
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