These Are 10 Major Consumer Goods Companies Exiting Russia

March 14, 2022

107

By Aman Jain. Originally published at ValueWalk.

major consumer goods companies exiting Russia

After Vladimir Putin ordered an invasion of Ukraine on February 24, several global brands have exited Russia, and this includes many household name brands as well. International sanctions, supply chain disruptions and consumer backlash have made it impossible for foreign companies to continue their operations in Russia. Let’s take a look at ten major consumer goods companies exiting Russia following its invasion of Ukraine.

Q4 2021 hedge fund letters, conferences and more

Ten Major Consumer Goods Companies Exiting Russia

We have referred to several online and offline sources to come up with the list of ten major consumer goods companies exiting Russia following its invasion of Ukraine. The list is in no particular order. Following are ten major consumer goods companies exiting Russia following its invasion of Ukraine:

Swatch Group

Founded in 1983 and headquartered in Biel, Switzerland, this company designs, makes and sells watches, jewelry, watch movements, and components. Swatch Group (OTCMKTS:SWGAY) has the following segments: Watches & Jewelry, and Electronic Systems. Its shares (ADR) are down over 17% in the last one 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.

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 one 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.

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 one 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 app and website in Russia.

IKEA

Founded in 1943 and headquartered in Delft, Netherlands, this company designs and sells ready-to-assemble furniture, home accessories, kitchen appliances, as well as other goods and home services. IKEA has closed all its Russian stores, as well as paused sourcing from Russia and its ally, Belarus.

“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,” the Swedish furniture company said.

Estee Lauder

Founded in 1946 and headquartered in New York, this company makes skin care, makeup, fragrance and hair care products. Its shares are down over 13% in the last one month but are up almost 1% in the last five days. The company reported revenue of over $16 billion in 2021. Estee Lauder Companies Inc (NYSE:EL) said it is suspending commercial activity in Russia, including stores, brand sites and shipments.

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 one 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.

Carlsberg

Founded in 1847 and headquartered in Copenhagen, Denmark, this company makes and markets beer, craft and specialty, and non-alcoholic beer. Carlsberg A/S (OTCMKTS:CABGY) sells its products under the following brands: Carlsberg, Baltika, Tuborg Green, Somersby Apple 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.

Budvar

This Czech brewer has halted beer deliveries to Russia, which is one of its five major markets. The company says it is working on ways to help, including finding accommodations for Ukrainian refugees.

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 one 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.

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 one month but are up almost 9% in the last five days. The company reported revenue of over $21 billion in 2021. Adidas AG (OTCMKTS:ADDYY) has suspended its operations at stores and online in Russia.