Procter and Gamble gaining in Russia

RUSSIA / FSU POLITICS - In Brief 02 May 2020 by Alex Teddy
30-50% of Russian economic output has been closed down to coronavirus. Procter and Gamble (P&G) is allowed to continue as normal. It produces coronavirus necessaries. These include Fairy and Tide.P & G has posted some of its best ever results for Q1. Sales are up. People have stocked up. 60% of P&G goods sold in Russia are Russian made. Imports are more expensive now due to the fall of the RUB. P & G's two factories in Russia are working 24/7. These are among the only factories in Russia allowed to operate during quarantine. As incomes have fallen people are going for the cheapest goods. A price war is likely. Russian retail giant X5 is promoting is rock bottoms goods. Own brand goods sales are up 17% over the past 3 years according to VTB.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this or its contents.