PepsiCo, Mars See Business Boom in Russia After Staying Behind
Mars
Mondleze
Mondelez, Mars and PepsiCo had roaring sales in Russia last year.
Sales for Mondelez Rus’ rose 38% last year to 92 billion rubles ($1.1 billion).
Mars booked a 14% increase in sales to 177 billion rubles last year while profit rose 58% to 27 billion rubles.
Mars booked a 14% increase in sales to 177 billion rubles last year while profit rose 58% to 27 billion rubles.
The US groups stayed in Russia as they are not sanctioned businesses but all three said they would only sell “essential” products.
Companies that stayed may have benefited from rivals leaving the market.
Consumer giants have said they are scaling back their businesses in Russia but few large brands in the global food and drink sector actually disappeared.
Mondelez’s bumper sales surge is starting to recede.