Starbucks to leave Russian market

Starbucks to leave Russian market

05/23/2022

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Starbucks on Monday announced that it is pulling out of the Russian market over the country's invasion of Ukraine. 

"Starbucks has made the decision to exit and no longer have a brand presence in the market," Starbucks told FOX Business in a statement. 

STARBUCKS, COCA-COLA, PEPSICO SUSPEND OPERATIONS IN RUSSIA; AMAZON SUSPENDS WEB SERVICES SIGN-UPS

TickerSecurityLastChangeChange %
SBUXSTARBUCKS CORP.73.39+1.46+2.03%

At the beginning of March, days after Russian forces invaded Ukraine, Starbucks joined a growing list of corporations that suspended all business activity in the country.

The coffee giant operated in Russia for 15 years and has 130 stores.

The company said it's still committed to supporting "the nearly 2,000 green apron partners in Russia, including pay for six months and assistance for partners to transition to new opportunities outside of Starbucks." 

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