Yum! Brands, which owns the KFC and Pizza Hut brands in Russia, is suspending investment and development in the country, the company said in a statement on its website. Yum! Brands intends to redirect profits to humanitarian activities.
“Like many around the world, we are shocked and saddened by the tragic events unfolding in Ukraine. Yum! Brands has suspended all investment and restaurant development in Russia while we continue to consider additional options.
According to Yum! Brands, 98% of the company’s restaurants are owned by franchisees. There are about 1,000 KFC restaurants and 50 Pizza Huts in Russia, most of which are also run by independent owners.
Many Western companies, including retailers, IT giants and automakers, have begun to reduce their presence in Russia or temporarily suspend their activities against the backdrop of the ongoing military operation in Ukraine since February 24.
In particular, the brewing concern Carlsberg, producers of Czech beer, and the Dutch brewing company Heineken announced the suspension of supplies and investments in Russia. The Michelin gastronomic guide also announced the suspension of activities in Russia. A similar decision was made by the Finnish companies Paulig and Valio. Sportswear manufacturers Nike and Puma, Spanish clothing stores Inditex and Mango have stopped working.
On February 24, Putin announced the start of a special military operation in the Donbass. He called its goal “the protection of people who have been subjected to bullying and genocide by the Kiev regime for eight years.” The President assured that Russia has no plans to occupy Ukraine, but Moscow will strive for the demilitarization and denazification of this country.