Starbucks will close all 130 stores in Russia on Monday. The coffee chain is one of the many U.S. companies that have left Russia since its invasion of Ukraine.
Starbucks had paused all of its businesses in the region on March 8. It ended its shipments of products and shut down its cafes during the pause. Starbucks said in the announcement that it will support employees in the region for up to six months while they look for new opportunities.
Those 130 stores in Russia account for only 1% of Starbucks' annual revenue. In its most recent earnings report, the Seattle-based company did not disclose how its pause in Russia impacted business. Most companies that left Russia or scaled down their business reported losses.
At the beginning of Russia's invasion, many Western governments, allies, and citizens pressured companies to leave or scale down their presence in Russia. The goal was to put pressure on the Russian economy, which would force the Kremlin to rethink its military aggression.
According to a list compiled by Yale, Starbucks has joined 327 other companies in completely withdrawing from the region. Since the war began in February, there are over 1,000 companies that have curtailed their business in Russia.
The recent announcement that McDonald's would withdraw its business from Russia is included in the list. McDonald's will sell its business to a Siberian franchise. The franchise will run the locations under a new brand.
215 companies still remain in Russia despite the mass exodus.