Kommersant: Wella cosmetics company leaves Russia

Wella Company, a professional cosmetics manufacturer from Germany, ceases production and sale of products under its brands in Russia after 28 years of operation. As Kommersant found out, the company announced this in a letter to its Russian partners.

Ownership of the Russian business will be transferred to a local top management team, the document says. The head of the Russian division of Wella, Natalya Lisina, did not promptly respond to the newspaper's request.

Experts interviewed by Kommersant called the company's departure critical for the industry. For example, they estimate that Wella hair color products accounted for up to 40% of the local market. At the same time, almost all Wella products were supplied from abroad, with the exception of the Londa brand.

The source of the publication in the industry believes that the Russian company Estel can take the market share of Wella.

• According to the Yale School of Management, at the end of May, since the beginning of the war in Ukraine, about 1,000 foreign companies have announced their withdrawal from Russia or the restriction of activities in the country.