By ValueWalk, Aman Jain
Big global brands continue to pull out of Russia following its invasion of Ukraine. Though this list continues to grow by the day, many major U.S. companies still remain in Russia. These companies continue to operate in Russia despite intense political pressure and consumer backlash to pull out of the country. Most of these brands have valid reasons for not suspending their operations in Russia. Let’s take a look at ten major US brands still in Russia.
Ten Major US Brands Still In Russia
We have referred to various online and offline sources to prepare the list of ten major U.S. brands still in Russia. Though many of these brands have curtailed their operations, they still continue to operate in Russia. Following are ten major U.S. brands still in Russia (the list is in no particular order):
Founded in 1853 and headquartered in Farmington, Connecticut, this company makes, installs, and provides escalators and escalator services. Its shares are down almost 7% in the last one month but are up almost 1% in the last five days. Otis Worldwide posted revenue of more than $14 billion in 2021. The company said it is not taking new elevator and escalator orders and is not making any new investments in the country as well.
Founded in 2011 and headquartered in North Chicago, Illinois, this company develops and sells pharmaceutical products. Its shares are up almost 7% in the last one month and almost 5% in the last five days. AbbVie posted revenue of more than $56 billion in 2021. The company has temporarily suspended operations for all its aesthetics products in Russia.
Founded in 1903 and headquartered in Chicago, this company makes and markets snack food and beverage products. Its shares are down almost 7% in the last one month and almost 1% in the last five days. Mondelez International posted revenue of more than $28 billion in 2021. The company has reduced operations in Russia.
Founded in 1919 and headquartered in McLean, Virginia, it is a hospitality company that operates through Ownership and Management & Franchise segments. Its shares are down almost 8% in the last one month but are up over 4% in the last five days. Hilton Hotels posted revenue of more than $5 billion in 2021. The company said it is shuttering the corporate office, as well as suspending new development in Russia.
Founded in 1957 and headquartered in Los Angeles, it is a hospitality company that manages and franchises luxury and business hotels, resorts, and vacation properties. Hyatt Hotels said it has closed its corporate office but has continued to allow its hotels to operate in Russia. The company says most of its hotels are owned by third parties, and this makes it difficult to close them down.
In a statement, Hyatt said it would “continue to evaluate hotel operations in Russia while complying with applicable sanctions and U.S. government directives as we hope for a resolution to this crisis.”
Founded in 1965 and headquartered in Bridgeport, Connecticut, it is a fast-food restaurant franchise that mainly sells sandwiches, wraps, salads, and beverage. Subway, which has about 450 restaurants in Russia, said all its local franchisees are owned and managed by independents and that it doesn’t have any corporate operations in Russia. The company said it will redirect profits from operations in Russia toward humanitarian efforts and is working to provide meals to refugees.
Founded in 1940 and headquartered in Wichita, Kansas, this company is involved in refining, chemicals, and biofuels; pollution control equipment and technologies; minerals; fertilizers; polymers and fibers, and more. Koch Industries has several ongoing business operations in Russia. Its wholly-owned subsidiary, Guardian Industries, operates two glass facilities in Russia. Molex, an electronic components maker, is another subsidiary of Koch with operations in Russia.
Founded in 1927 and headquartered in Bethesda, Maryland, this company deals in the operation and franchise of hotel, residential, and timeshare properties. Marriott International Inc. shares are down over 8% in one month but are up almost 9% in the last five days. The company reported revenue of more than $13 billion in 2021.
In a statement, the company said its hotels in Russia are owned by third parties “and we continue to evaluate the ability for these hotels to remain open.”
Founded in 1865 and headquartered in Wayzata, Minnesota, it is a global food corporation. The U.S. agricultural giant said they have curtailed business activities and stopped investment in Russia. Cargill, however, still continues to offer “essential food and feed facilities” in the country.
Founded in 1950 and headquartered in Quincy, Massachusetts, it is a coffee and doughnut company, as well as a quick-service restaurant. In a statement, Dunkin’ Donuts noted that it had suspended all current development and investment in Russia. The company has about 20 Dunkin locations in Russia. Since these locations are owned and operated by local, independent franchise owners, the company says it can’t technically close them.
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