“Starbucks will exit Russia after 15 years, closing 130 licensed cafes”
May 23, 2022
“After 15 years operating in Russia, Starbucks will exit the market, joining companies like McDonald’s, Exxon Mobil and British American Tobacco in withdrawing from the country completely.
The coffee giant announced Monday that it will no longer have a brand presence in Russia. Starbucks has 130 locations in the country, which account for less than 1% of the company’s annual revenue. They are all licensed locations, so the Seattle-based company itself doesn’t operate them…”
It’s not a good idea to give up market share. Someone will take their place.