The Procter & Gamble Company (PG), a Dow 30 component, supplies branded consumer packaged goods to consumers across the globe. Reportedly, Procter & Gamble is due to expand its manufacturing & distribution center while localizing production in Russia. The Consumer good giant has invested 9 billion roubles between 2016 and 2018 in the country and plans to invest 2.4 billion roubles ($37 million) this year to further expand its operations and business.
Even though the relation between Moscow and Washington has not been very pleasant over Russia’s annexation of Crimea and alleged U.S. election meddling, P&G’s head for Eastern Europe and Central Asia, Sotirios Marinidis stated “Russia was, is and will always be a key market. We’re here to stay, we’re here to keep investing” according to a Reuters report.
Marinidis informed that four out of five product categories have already been localized in Russia, and the company is working towards to localize production for hair care in the future. Russia is among P&G’s top 10 focus markets including the United States, China, Japan, and the United Kingdom.
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