Nine of the hundred most valuable brands in the world continue to operate in Russia according to Interbrand Best Global Brands-2023. This list includes Xiaomi, Pampers, Nestlé, Gillette, Colgate, Johnson & Johnson, Siemens, YouTube and Danone (in July 2023, the shares of foreigners were transferred to the Federal Property Management Agency), writes Vedomosti.
These companies from hostile countries announced the suspension of investments, most reduced their range to basic goods and children’s items, many stopped working in the Russian Federation, but were unable to sell their assets.
According to the Best Global Brands rating, the most valuable companies this year were Apple ($502.6 billion, +4% compared to estimates for 2022), Microsoft ($316.5 billion, +14%) and Amazon ($276 .9 billion, +1%).
Since early February 2022, foreign companies, including several of the world’s largest fashion retailers, have reduced their business in Russia. Among them are the Spanish Inditex (Zara, Oysho, Massimo Dutti chains) and the Swedish H&M (H&M, Cos, & Other Stories). In addition, luxury brands Chanel, Dior, Prada and other brands also left the market.
- In January-September 2023, 16 new foreign brands appeared on the Russian market. This is a record number in the last four years; There were only more in 2019, when 26 new brands were launched in the Russian Federation. Most of the brands came from Türkiye and Belarus.
Author:
Karina Pardaeva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
