SEATTLE, Washington: Following the decision of McDonald's, Seattle-based Starbucks said this week that it will exit the Russian market after nearly 15 years, in protest of the ongoing Russian invasion of Ukraine.
Operated by its licensee Alshaya Group, Starbucks' 130 stores in Russia have nearly 2,000 employees.
Last week, McDonald's said it was selling its restaurants in Russia to its local licensee, Alexander Govor, to be rebranded under a new name, but will retain its trademarks.
Other Western companies, including Imperial Brands and Shell, are cutting ties with the Russia market by agreeing to sell their assets within the country or handing them over to local managers.
Following Moscow's invasion of Ukraine, in March, Starbucks closed its Russian stores and suspended all business activities in the country, including shipments of its products.
Opening its first outlet in Russia in 2007, Starbucks said it will continue to support its local employees, including paying their salaries for six months.