Bacardi condemned the war but its Russian subsidiary grew revenue by 71%

In spring 2022, alcohol giant Bacardi publicly condemned Russia's invasion of Ukraine and pledged to halt exports and investments in the Russian market. In practice, however, its Russian subsidiary Bacardi Rus became a major beneficiary of competitors' withdrawals, growing its revenues by 71% during the full-scale invasion. The case highlights a stark gap between corporate statements and actual business conduct in Russia.

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