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MARKETECH APAC Reels: Features leading industry brands’ withdrawal from Russia

Russia vs Ukraine
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Singapore MARKETECH APAC, the marketing-centric digital media for APAC, launches an in-depth feature on the brands and companies around the world that have decided to take action in line with the on-going war between Russia and Ukraine.

The special feature which is our pilot content under the new MARKETECH APAC Reels of MARKETECH APAC, features the conflicting history between Russia and Ukraine, and brands and companies who finally bid their goodbyes to Russia. 

In a televised speech, Russian President Vladimir Putin has declared a “special military operation” in Ukraine on 24 February 2022, an ominous warning hours before the invasion of Ukraine. 

Soon after Putin’s speech, reports emerged of explosions around cities, including Kharkiv in eastern Ukraine and the capital Kyiv. The Ukrainian foreign minister called it “a full-scale invasion of Ukraine.” Russian troops and tanks had entered the country on three fronts.

The World Federation of Advertisers (WFA), which represents marketers from globally known brands, urged its members to assess and reconsider their media and marketing expenditures in both countries.

“In light of the horrifying events in Ukraine, the global marketing industry must speak out. Every company will have to make its own decision but our recommendation is that media investment and marketing in Russia should end for now,” said WFA CEO Stephan Loerke.

Financial services and large consulting firms also put their operations to a halt. Other industries like retail stores, fashion, tech and consumer brands also pulled out from Russia after their intervention with Ukraine. 

The withdrawal of operations by largely well-known brands resulted in a huge blow to Russia’s economy and is currently creating a job crisis.

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