American-Dutch company Jacobs Douwe Egberts Peet’s, which owns beverage brands, especially coffee and tea, will stop selling brands such as Tassimo and Moccona in Russia. newspaper reports The Wall Street Gazettereferring to the company’s CEO, Fabien Simon.
Jacobs Douwe Egberts Peet’s is renaming a major brand, re-establishing its supply chains, and retaliating against those who say it should leave Russia.
According to the publication, the company plans to remove the Jacobs brand from the Russian Federation by the end of the year and will be replaced by a brand called Monarch.
“Jacobs’ innovations in global brand products for Monarch will not be shipped to Russia, and the company will also stop sales in Russia of some other international brands, including Tassimo and Moccona,” the newspaper said.
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