Stock Groups

Western business reborn in Russia under new names -Breaking


© Reuters. Inside a McDonald’s, an employee holds documents and a notice board advising of temporary closures in Moscow. May 16th 2022. REUTERS/Evgenia Novozhenina

(Reuters) – McDonald’s Corp (NYSE 🙂 has sold its Russian restaurants to one of its local licensees. They will reopen them under a new brand yet to be determined – perhaps the most prominent rebranding of any company separating itself from Russia.

Many Western brands are threatening to withdraw from the market in order not to be associated with Russia’s military intervention in Ukraine.

Below are some of the names that were added to this list:

ACCOUNTING & CONSULTING The world’s “Big Four” accounting and consulting firms have severed ties with Russia. The Russian branch has been rebranded in three instances. PricewaterhouseCoopers LLP (PwC) said the successor to its Russian branch would be called Technologies of Trust.

Technologies of Trust explained that it takes years to develop trust and an excellent reputation. However, this can all be lost in a few days. According to an April 18 regulatory filing made by MTS, one of the major Russian clients, Deloitte, its former Russian business has been renamed “Business Solutions and Technologies.” According to EY’s website, the former Russian EY unit was relaunched under the name Audit Technologies and Solutions Centre- Audit Services. KPMG stated in March that it would remove its 4,500 Belarusian partners and employees from the KPMG network.

The company stated on March 7 that all formalities of interactions would be discussed individually with each client. It did not specify if the business would relaunch as Russian owned.

PwC did not respond to further inquiries. Deloitte, EY, KPMG and EY did not respond immediately to queries.


Zurich Insurance announced on May 20 that it would sell the Russian business to local employees. However, the name of the new brand was not revealed.

On April 6, the Russian division of Bryan Cave Leighton Paisner was relaunched under Russian management as ALUMNI Partners.

Real Estate

CBRE ended its Russian partnership with two companies and resigned as a major in commercial real-estate. CBRE’s Russian former unit stated that the current managers would assume control of the business. It will operate under the name COREXP (NASDAQ)


French automaker Renault (EPA) will sell its major stake in Avtovaz, a Russian carmaker, to a Russian science institution, reportedly at one rouble. There is a 6-year option to buy it again, leaving room for a return.

Moscow’s Renault Russia plant will cease making Renaults. It will be renamed Moscow Automobile Factory Moskvich. This will bring back the Moskvich brand (Muscovite), which was last seen on Russian new cars twenty years ago.


Polish retail firm LPP stated that on May 19, it decided to sell RE Trading, its Russian subsidiary, to a Chinese company. The Chinese consortium has “no rights to use the trade names and trademarks for clothing brands owned or licensed by LPP.”

According to TASS news agency, signage that was already in use would be gradually replaced with new logos. On May 20, photos on social media revealed that Sinsay’s LPP stores had already displayed the new brand Sin.