04.28.22
Coty is the latest fast-moving consumer goods company to completely exit Russia. Hundreds of companies are making the move after Russian President Vladimir Putin ordered the invasion of Ukraine in February.
Russia account for about 3% of Coty's sales, the company said Wednesday.
“After careful consideration, including analysis of relevant US, UK and other applicable regulation, Coty has decided to wind down its Russian operations starting immediately,” the company said in a statement.
Coty’s move to cease operations in Russia comes nearly two months after many big beauty and consumer products companies, including Coty, halted commercial activity there, due to Russian president Vladimir Putin’s continuing attack on Ukraine.
The majority of Americans said companies should cease doing business in Russia to protest the war.
Russia account for about 3% of Coty's sales, the company said Wednesday.
“After careful consideration, including analysis of relevant US, UK and other applicable regulation, Coty has decided to wind down its Russian operations starting immediately,” the company said in a statement.
Coty’s move to cease operations in Russia comes nearly two months after many big beauty and consumer products companies, including Coty, halted commercial activity there, due to Russian president Vladimir Putin’s continuing attack on Ukraine.
The majority of Americans said companies should cease doing business in Russia to protest the war.