Starbucks Shuts Down 130 Stores In Russia

Starbucks Corp. is closing down its business in Russia, as the invasion of Ukraine puts an end to its 15-year presence in the country and marks the departure of another big Western corporation, Heather Haddon reported for Wall Street Journal.

Photo Insert: A Starbucks Russia menu

The global coffee giant suspended its licensee’s Russian business on March 8 in the days after the conflict erupted.

Starbucks, which first opened in Russia in 2007, said Monday it would permanently wind down operations in its 130 stores and would no longer have an operation in the country.

In neighboring China, Airbnb has decided to ditch its China business as harsh lockdowns and competition weigh on demand.

The home-sharing company to shut its domestic operations in the country, but continue to serve Chinese travelers booking overseas properties. Bookings of stays and experiences in China typically account for about 1% of Airbnb’s overall revenue, the firm said.

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