The war in Ukraine has prompted Apple, Pepsi, McDonald’s and other big U.S. brands to rethink their businesses in Russia. Here’s a look at their history there and what’s at stake.
Pepsi, during the Cold War, was an early U.S. brand to enter the U.S.S.R. As the Soviet system was collapsing, McDonald’s, Apple and others moved to tap an emerging consumer market. Sanctions imposed on Russia after its invasion of Ukraine have prompted many Western companies to suspend or scale back their Russian operations.
Pepsi began laying the groundwork in Moscow in the late 1950s, when Vice President Richard Nixon and company executive Don Kendall offered a taste of the soft drink to Soviet leader Nikita Khrushchev.PepsiCo paid $5 billion for a Russian dairy business in 2011. Russia is now PepsiCo’s third-largest market, with $3.4 billion in annual revenue. PepsiCo said it would halt sales of sodas, but continue selling potato chips, milk and baby food.
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