Following McDonald's, Coca-Cola also completely withdraws from Russia = Korean coverage

Coca-Cola will no longer be available for purchase in Russia. Following McDonald's and Starbucks, Coca-Cola has also decided to withdraw completely from the Russian market.

Coca-Cola said on June 16th (local time) that "Coca-Cola HBC and existing customers in Russia are using the stock" and "As soon as the stock runs out, Coca-Cola HBC will be the Coca-Cola and Coca-Cola brand in Russia. We will not produce or sell other products."

It is the first time in 42 years since Coca-Cola made a full-scale entry into the Russian market in 1980. Coca-Cola has a 12.1% share of the Russian beverage market in 2020, rising to second place after Pepsi.

Earlier, Coca-Cola announced that it would suspend local sales in March after Russia invaded Ukraine. Coca-Cola drinks are no longer easily available, and "fake brand" drinks are on sale in Russia. Instead of Coca-Cola, "Cool Cola" was released, and "Street" and "Fancy" that imitated Sprite and Fanta were released.

Coca-Cola HBC is a partner company of Coca-Cola headquartered in Switzerland, supplying Coca-Cola products to 29 countries including Europe including Russia. Coca-Cola headquarters holds a 23% stake. Coca-Cola HBC operates 10 production plants in Russia.

Meanwhile, McDonald's, the representative fast food franchise of the United States, announced the withdrawal of the Russian market on May 18th, and Starbucks, the world's largest coffee company, also completely withdrew from the Russian market on May 23rd.