The great rebranding: Western companies reborn in Russia with new names amid Ukraine horror

McDonald’s is selling its restaurants in Russia to one of its current local licensees, which will reopen the branches under a yet-to-be-decided new name — the most high-profile rebranding yet of the companies spinning off from Russia.

Western brand cores have said they intend to exit the market, avoiding association with Russia’s large-scale military campaign in neighboring Ukraine.

Here are some new names that have appeared:

Accounting and consulting

The world’s “Big Four” accounting and consulting firms have cut ties with Russia. In three cases, the Russian unit has already been renamed.

PricewaterhouseCoopers (PwC) said that the successor to its Russian branch would be called Technologies of Trust.

“While it can take years to build trust and develop an impeccable reputation, they can be undermined overnight,” Technologies of Trust said.

Deloitte’s former Russian business is becoming “Business Solutions and Technologies,” according to a May 18 regulatory filing from one of its major Russian clients, mobile operator MTS.

EY’s former Russian unit was relaunched as the Audit Technologies and Solutions Center – Audit Services, according to its website.

KPMG said in March that its 4,500 partners and staff in Russia and Belarus would leave the KPMG network.

“All formal aspects of the interaction will be resolved with each client individually,” he said on March 7, without saying whether the business would be relaunched under Russian ownership.

PwC had no further comment. Deloitte, EY and KPMG did not immediately respond to inquiries.

right and safe

Zurich Insurance said on May 20 that it had agreed to sell its Russian business to local team members, who would operate the business under a different brand, but did not disclose the new name.

The Russian unit of law firm Bryan Cave Leighton Paisner relaunched under Russian administration on April 6 as ALUMNI Partners.

Property

Commercial real estate giant CBRE has left Russia, ending its association with two affiliated companies there. CBRE’s former Russian unit said existing managers would take over the business, which would operate as CORE:XP.

cars

French carmaker Renault will sell its majority stake in automaker Avtovaz to a Russian scientific institute, reportedly for just one ruble, with a six-year option to buy it back, leaving the door open for a return.

Renault Russia’s plant in Moscow will stop making Renault and be renamed the Moskvich Moscow Automobile Plant, resurrecting the Moskvich (Muscovite) marque, which last appeared on new Russian cars two decades ago.

Clothing

Polish retailer LPP said on May 19 that it had decided to sell its Russian company, RE Trading, to a Chinese consortium, “without any right to use trade names and trademarks of clothing brands owned by LPP.”

The TASS news agency reported that the old signage would be gradually replaced with new logos. Images on social media on May 20 showed one of LPP’s Sinsay stores already displaying the new brand: Sin.

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