The British owner of the famous alcoholic beverage brands Diageo is leaving the Russian market, and the office in Moscow is closing.
Diageo stopped deliveries to Russia on March 3, amid the Russian invasion of Ukraine. The newspaper "Kommersant" writes that since then the company has been selling products from warehouses, but has not imported new ones. Now stocks are running low.
Babel sources said that Diageo plans to close its Moscow office in July and that all employees will be fired.
Diageo said the reduction in business in the country "will take about six months, during which we will continue to focus on supporting our employees, including providing them with an expanded compensation package."
- Diageo owns alcohol brands such as Johnnie Walker, Guinness, Baileys, Captain Morgan, Smirnoff, White Horse, Gordonʼs and others. This means that businesses and bars will suffer significantly from the companyʼs exit. The Diageo website states that it supplied products to 70,000 stores and 19,000 restaurants and bars in Russia.