Russia has lost more than 1,500 foreign businesses in one year
Yale University monitors companies that have left or are leaving: Italy has 40 including Ferrero and Barilla
One year after the invasion of Ukraine, Russia's economic losses are counted. The most worrying loss for the country is that of the more than 1,000 global multinational companies that have left or are leaving the nation. The behavior of over a thousand multinationals was measured by the Yale School of Management, according to which 32% of active companies have adopted forms of partial or total withdrawal, from the shutdown of some businesses to the sale of Russian company branches. We are talking about voluntary exits of companies with revenues equivalent to 35% of Russian GDP and which employ 12% of the country's workforce.
Well, the study points out the more than 1,000 companies that voluntarily chose to leave Russia in an unprecedented and historic mass exodus in the weeks following February 2022, "have largely lived up to their commitments and divested completely or are in about to completely secede from Russia with no plan for return".
To better understand the situation that has arisen, Jeffrey Sonnenfeld, economist, professor of Management Practice at the Yale School of Management, head of the Yale Research Team, has published on the university website the census of company behavior following the invasion of Ukraine. The dossier is continuously updated and today contains over 1,586 companies. There are 40 Italian women present.
The list is divided into four categories: the first, called Digging In, i.e. effectively "Resisting", includes 238 companies that continue to operate in Russia. Here, there are 12 Italians: Ariston, Cremonini, De Cecco, Perfetti Van Melle stand out in the agri-food and related sectors. Together with them, Benetton, Boggi, Buzzi Unicem, Calzedonia, Diesel, Fenzi, Fondital, and Unicredit resist. Internationally, they share the category with brands such as Auchan, Bonduelle and Lactalis.
In the second category, Buying time which we could translate as "those that take time" are the 170 companies that have decided to postpone future investments, while continuing to carry out their local business Among the Italians there are Barilla (it has suspended all new investments and advertising activities , limiting Russian production to pasta and bread), Campari (it continues to sell but has suspended new investments), De Longhi, Menarini, as well as Geox, Giorgio Armani, Intesa-Sanpaolo, Maire Technimont and Saipem. They are in good company because on an international level they are with giants such as Bayer, Carlsberg, Domino's pizza, Kraft Heinz, Mars, Mondelez, Nestlé, Red Bull and Unilever.
Third category, Scaling back , which includes the 148 companies that are reducing some important commercial operations but are continuing others. Among the Italians are Ferrero, Indesit, but also Luxottica, Pirelli, and Valentino. Internationally there are Bacari, Coca Cola, Kellogg's, Pepsi Cola and Whirlpool.
Fourth category surveyed, Suspension, "suspension" includes as many as 500 companies that have decided to temporarily halt most or nearly all activity while keeping return options open. Among these are the Italian Diadora, Ferragamo, Ferrari, International Federation of Sport Climbing, Leonardo, Moncler, Prada, Yoox, Zegna Group. They share the category with other giants such as Burger King, Danone, Diageo and Richemont.
Finally, quita and last category, Withdrawal i.e. "Withdrawal" includes the 521 companies that have either completely broken off Russian commitments or have exited the nation completely. Among the Italian companies there is Autogrill but also Generali, Enel, Eni, Iveco together with foreign ones such as Fonterra and Mc Donald's.
EFA News - European Food Agency