OREANDA-NEWS  The American-Dutch JDE Peet's has decided to reduce its activities in Russia. This is stated in the company's report for the first half of 2023.

The company owns such coffee and tea brands as Jacobs, L'Or, Tassimo and Douwe Egberts. It intends to stop selling foreign brands in Russia by the end of 2023 and leave only local products on this market. Due to such measures, the company has already suffered losses of 185 million euros in six months, said JDE CEO Fabien Simon.

According to the company's representative, working on the Russian market does not contradict Western sanctions, so JDE is not going to completely leave Russia. Now more than 900 people work in the local division of the company.

After the start of the special operation in Ukraine, JDE wanted to separate from the Russian "daughter" and encouraged her independent development. The company stopped investing in advertising and promotion of global brands in the country, but promised to provide consumers in Russia through a local division.

In March 2023, it became known that JDE was discussing options for changing the Jacobs brand for the Russian market. At that time, the brand was planned to be renamed Monarch or Milicano in order to "give local businesses more opportunities to promote products." In addition to Jacobs, a possible rebranding can also wait for Tchibo coffee, sources of Kommersant said.