BusinessNestle to Suspend many Products in Russia including KitKat

Nestle to Suspend many Products in Russia including KitKat

-

- Advertisment -spot_img
KitKat barIMAGE SOURCE,GETTY IMAGES
Image caption,

KitKat bar

Swiss food giant Nestle is pulling its popular brands out of Russia but will still sell essential foods.

The firm stopped investment in the country earlier this month but has now suspended sales of brands such as KitKat and Nesquik.

It follows fierce criticism of the firm by Ukrainian politicians.

A growing number of Western brands have suspended operations in Russia in protest at the war but a few are staying put.

“As the war rages in Ukraine, our activities in Russia will focus on providing essential food – not on making a profit,” Nestle said.

“We are fully complying with all international sanctions on Russia,” it added.

Ukraine’s President Volodymyr Zelenskiy criticised Nestle for still conducting business in Russia in a streamed speech to protesters on Saturday.

And earlier, Ukrainian Prime Minister Denys Shmyhal tweeted that Nestle boss Mark Schneider “shows no understanding”.

He wrote: “Paying taxes to the budget of a terrorist country means killing defenceless children and mothers. Hope that Nestle will change its mind soon.”

That led to #BoycottNestle trending on Twitter.

The company has been gradually reducing its activity in Russia since the the start of the Ukraine war, but has been under pressure to pull out altogether.

It scrapped advertising and capital investments and earlier this month stopped shipments of non-essential products like Nespresso coffee capsules and San Pellegrino water.

But it continued to sell many of its brands saying: “We have a responsibility toward our more than 7,000 employees in Russia – most of whom are locals”.

The latest move will leave it selling just infant food and medical and hospital nutrition.

“While we do not expect to make a profit in the country or pay any related taxes for the foreseeable future in Russia, any profit will be donated to humanitarian relief organisations,” it said.

“We stand with the people of Ukraine and our 5,800 employees there.”

So far international brands such as McDonald’s, cosmetics firm L’Oreal, fashion retailer H&M and tech giant Apple have suspended or limited their activities in Russia.

A minority of others continue to produce non-essential goods in the country, while companies such as M&S and Burger King say complex franchise agreements make it impossible to close their shops in Russia.

Latest news

Businessman Jad Sawaya Achieves Remarkable Success in the UAE’s Investment and Real Estate Sector

  UAE – Amid the rapidly evolving economic landscape of the United Arab Emirates, businessman Jad Sawaya has emerged as...

All Eyes on Nadine Nassib Njeim: Arab Star Dazzles at Cannes Red Carpet

  Cannes, France | Lebanese star Nadine Nassib Njeim stole the spotlight at the 2025 Cannes Film Festival, dazzling the...

The Power of SHE: Strength, Heroism, Evolution

  By Maha Shhadeh March 8th is more than just a date—it’s a movement. International Women’s Day 2025 celebrates The Power...

Palazzo Hospitality Expands into Africa with the Landmark Palazzo Ezulwini Hotel & Convention Center in Eswatini

A Visionary Hospitality Project Set to Elevate Eswatini’s Tourism and Business Landscape Palazzo Hospitality, the management company behind some of...
- Advertisement -spot_imgspot_img

Hotel industry in need of greater innovation, efficiency, leaders say

LOS ANGELES — The hotel industry's need to cut costs while also addressing labor shortages aren't likely to go...

Hyatt CEO: Investor interest in all-inclusive resorts up as segment hits ‘inflection point’

As Hyatt expands its all-inclusive resort affiliations, most recently with its pending acquisition of Playa Hotels & Resorts, President and...

Must read

Businessman Jad Sawaya Achieves Remarkable Success in the UAE’s Investment and Real Estate Sector

  UAE – Amid the rapidly evolving economic landscape of...

All Eyes on Nadine Nassib Njeim: Arab Star Dazzles at Cannes Red Carpet

  Cannes, France | Lebanese star Nadine Nassib Njeim stole...
- Advertisement -spot_imgspot_img

You might also likeRELATED
Recommended to you