Maker of Durex and Contex condom brands plan exit from Russian market

14 April, 12:18 PM
The British company Reckitt leaves the Russian market (Photo:Mikhail Tyrsyna\Unsplash)

The British company Reckitt leaves the Russian market (Photo:Mikhail Tyrsyna\Unsplash)

British company Reckitt, best known as the manufacturer of condom brands Durex and Contex, intends to divest itself entirely from its Russian holdings, according to a company statement released on April 13.

It will be transferring ownership of its Russian businesses away from the core company. 

“This action builds on our previously announced decision to freeze capital investments, advertising, sponsorships, and promotions in Russia,” the company declared. 

The transfer may include passing ownership over to a third party in the country, or to local Reckitt employees. 

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“We will work closely with our colleagues in Russia on the details of the various options available to ensure an orderly process,” the statement reads.

The company promised to do its utmost to ensure the ongoing work of those colleagues in any new structure. Reckitt has also committed to paying them monthly salaries and benefits until the end of 2022. 

Reckitt owns over twenty personal care, health and nutrition brands, including Durex, Contex, Calgon, Vanish, Nurofen, and Strepsils. About 1,300 employees work in the Russian division of the company.

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