Stolichnaya is rebranding.
The popular vodka will now be exclusively sold and marketed as Stoli, the Stoli Group announced following Russia’s invasion of Ukraine. The company’s decision was driven by three factors: the founder’s vehement opposition to the Putin regime; the employees’ determination to take action; and the desire to accurately represent Stoli’s roots in Latvia.
The company’s production facilities have been based in Latvia since 2000. This is where blending, charcoal column filtration, bottling, packaging, and distribution are handled. Following the rebrand, Stoli would also be engaging exclusively with Slovakian sources to further ensure 100% non-Russian alpha grade spirit.
Founder Yuri Shefler, who’s been exiled from Russia for the last 20 years for his opposition to Russian President Vladimir Putin, shared that while he remains proud of the Stolichnaya brand, “the name no longer represents our organization. More than anything, I wish for ‘Stoli’ to represent peace in Europe and solidarity with Ukraine.”
Stoli is one of many brands that have distanced itself from Russia since the war. In the past week, consumer giants — McDonald’s, Procter & Gamble, Unilever, and Coca-Cola, to name a few — have announced that they have severed, or have dramatically scaled back their economic ties with Russia. And as with Stoli, it seems that for these major marketers, cutting ties with Russia is less about economics and more about rejecting Moscow’s actions against Ukraine.
More companies cutting ties with Russia
In the banking sector, Visa, Mastercard, and American Express have announced that they would be pulling out of Russia. This means that cards issued by Russian banks will not work in other countries, while cards issued in other countries will not work for purchases in Russia.
Tech giants Samsung and Apple have halted production in and exports to Russia. Major energy companies, such as BP, Shell, and Exxon Mobil have also pulled back, either by exiting joint ventures with Russian state-controlled firms or selling their stakes.
Some mining companies have also started to distance themselves from Russia. Anglo-Australian mining company Rio Tinto (NYSE: RIO) will terminate all commercial relationships with Russian firms, and Canadian gold miner Kinross Gold (TSE: K) said last week it was suspending its Russian operations.
Information for this briefing was found via Stoli, Twitter, The Wall Street Journal, and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
