Russian Federation: Latest beverage news & analysis
Carlsberg's CFO has said the company is “a little more negative” on Russia's consumers after continued problems in the country forced a full-year forecast downgrade.
The CFO of Brown-Forman has offered hope to Russia's alcohol market, claiming that the company is "doing pretty well" in the challenging country.
That, in just the space of two days, Carlsberg has announced both a pay freeze and the closure of two Russian breweries, speaks volumes about the seriousness of the situation in its Eastern European stronghold.
It was more of the same for Carlsberg in its YTD results release yesterday as weakness in Eastern Europe continued to damage the bottom line.
Carlsberg's CEO has said that Russia may reverse some of the regulations that has seen the country's beer market shrink and brewers close production sites.
Brewers in Russia are to scrap their 1.5-litre PET bottle lines despite warning the move will drive consumers to illegal alcohol.
Roust Inc, the owner of Russian Standard vodka, is to take over distribution of Casa Cuervo's Bushmills Irish Whiskey in Russia.
Authorities in Moscow are to ban alcoholic energy drinks in the city, according to local reports.
PepsiCo has confirmed it is to shut one of its fruit juice plants in Russia.
Russia has lowered its minimum vodka price by 16% as the country battles currency deflation and a falling global oil price, according to reports.
Carlsberg is to close two of its ten Russian breweries with the loss of up to 600 jobs.
Carlsberg has confirmed it has introduced a freeze on salaries and hiring new staff in light of its on-going struggles in Russia.
Carlsberg says it has not ruled out closing some of its breweries in Russia after an analyst predicted two will shut down as the country's economic crisis deepens.
Finland's Altia Corp is to launch its Koskenkorva vodka brand in Russia ahead of the holiday season.
Carlsberg has welcomed the on-going passage of a bill to freeze beer duty in Russia, branding it a “positive development”.
The Coca-Cola Co has had its fair share of critics this year, from health campaigners to investor David Winters, who this week called for CEO Muhtar Kent to be replaced.
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