Update on Russia

Article 27/04/2023

From the very beginning we have utterly condemned the invasion of Ukraine by Russia. 
We have stood and stand firmly with the people of Ukraine, contributing to the UNHCR and provided assistance to our 60 local team members, including direct financial assistance, psychological support, accommodation for some employees and their families, in neighbouring countries and employment outside Ukraine for those who required it. 
In fully complying with all international sanctions we significantly reduced the number and quantity of brands imported to a level that enabled us to protect our local teams, their livelihoods, and the welfare of their families.
This also meant reducing the quantities being sold to avoid ‘intentional bankruptcy’, which is a criminal offence in Russia and represents a significant risk for our employees. 
In doing everything we can to manage the situation, the reality of exiting Russia is both complex and extremely challenging. 
We also fully understand and acknowledge the reaction over the recent days as we sought to give context to the decisions we have taken. Many companies, in our industry and in others, have made the same difficult choice. 
We are working hard to find the best way to navigate this complexity, including stopping the export of our international brands while ensuring the welfare and safety or our team, considering the local legal constraints. Knowing that to do so will not prevent any of our brands falling into the hands of the ‘grey market’, which has strongly increased in recent months, over which we have no control.
Our commitment to protect our colleagues in the region has been the guiding principle of the difficult choices we have made, and we continue to work hard to find the best solution to this difficult dilemma. We will be providing updates as appropriate.


About pernod ricard

Pernod Ricard is the No.2 worldwide producer of wines and spirits with consolidated sales amounting to €10,701 million in fiscal year FY22. The Group, which owns 17 of the Top 100 Spirits Brands, holds one of the most prestigious and comprehensive portfolios in the industry with over 240 premium brands distributed across more than 160 markets. Pernod Ricard’s portfolio includes Absolut Vodka, Ricard pastis, Ballantine’s, Chivas Regal, Royal Salute, and The Glenlivet Scotch whiskies, Jameson Irish whiskey, Martell cognac, Havana Club rum, Beefeater gin, Malibu liqueur or Mumm and Perrier-Jouët champagnes. The Group’s mission is to unlock the magic of human connections by bringing “Good Times from a Good Place”, in line with its Sustainability and Responsibility roadmap. Pernod Ricard’s decentralised organisation empowers its 19,480 employees to be on-the-ground ambassadors of its purposeful and inclusive culture of conviviality, bringing people together in meaningful, sustainable and responsible ways to create value over the long term. Executing its strategic plan, Transform & Accelerate, Pernod Ricard now relies on its “Conviviality Platform”, a new growth model based on data and artificial intelligence to meet the ever-changing demand of consumers. Pernod Ricard is listed on Euronext (Ticker: RI; ISIN Code:FR0000120693) and is part of the CAC 40 and Eurostoxx 50 indices.