According to reports, Coca Cola will continue to operate in Russia, selling its iconic beverage under the Dobry Cola label, according to the founder of the Teremok fast-food chain, Mikhail Goncharov.
Goncharov said on Friday, “We have received notice from Coca-Cola that the drink will now be called Dobry Cola, the one that was previously Coca-Cola. We will try to sell it.”
Goncharov added that the new label will experience increased competition from Russian brands which have launched their own colas.
Coca-Cola HBC CEO Zoran Bogdanovich had announced to employees in a letter that Coca Cola brands would cease production in Russia. The company had announced in March that it would suspend all business in Russia, joining an exodus of Western companies exiting the market amid sanctions over the conflict in Ukraine.
Coca Cola had run ten factories in Russia, producing such beverages as Fanta, Sprite and Schweppes, along with local brands such as Bonaqua, Dobry, Moya Semya, and Rich juice.
The Daily Financial Trends
