Russian Soft Drinks Maker Targets 50% Of Market To Fill Gap Left By Coke, Pepsi
Russian Soft Drinks Maker Targets 50% Of Market To Fill Gap Left By Coke, Pepsi Mary Akanbi 3rd August, 2022 As the world's biggest soft drinks makers cut their Russian ties, local producer Chernogolovka is aiming for a 50% share of the country's near $9 billion market, its boss told Reuters. A mass exodus of Western firms due to sanctions and restrictions over Russia's actions in Ukraine has created an unexpected opportunity for Russian businesses and entrepreneurs. Chernogolovka, named after the town outside Moscow where it was founded in 1998, makes snacks, bottled water, herby lemonades, energy drinks and, since May, Cola Chernogolovka. The privately-owned company is more than doubling its business this year, its CEO Natalia Sakhnina said in an interview, and expects to reach a 30% market share within two years, up from around 8.5% at the end of 2021. "We were, are and will be the main Russian producer of drinks," Sakhnina said. "We hope and a...