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26 Aug, 2022 17:15

Coca-Cola reluctant to leave Russia

The US soft-drink maker will change its iconic name and remain on the market
Coca-Cola reluctant to leave Russia

US soft-drink giant Coca-Cola will sell its iconic product in Russia under the Dobry Cola brand, according to the founder of the Teremok fast-food chain, Mikhail Goncharov.

“We have received notice from Coca-Cola that the drink will now be called Dobry Cola, the one that was previously Coca-Cola. We will try to sell it,” Goncharov said on Friday, as quoted by Interfax.

The new soft drink will have to compete with Russian companies that have launched their own colas, he added.

Interfax also cited a letter to employees from Coca-Cola HBC CEO Zoran Bogdanovich, in which he announced the cessation of production and sale of Coca-Cola brands in Russia.

The US company announced plans to suspend business in Russia in March, joining the exodus of other iconic Western brands, including McDonalds, amid sanctions over the conflict in Ukraine.

Coca-Cola operated 10 factories in Russia, producing soft drinks including Fanta, Sprite and Schweppes, along with local brands such as Bonaqua, Dobry, Moya Semya, and Rich juice.

For more stories on economy & finance visit RT's business section

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