The Swedish manufacturer of personal care products Essity, which owns the Zewa, Libresse and Libero brands, is leaving the Russian market, Report informs referring to the company’s report.
“Essity’s conditions to pursue business in Russia have worsened. As a result, the company’s assets in Russia were impaired by approximately SEK 1.4bn. Furthermore, work has been initiated to exit the Russian market. In 2021, Essity’s net sales in Russia amounted to approximately SEK 2.8bn, corresponding to about 2% of total consolidated net sales in 2021,” reads the report.
Essity manufactures personal care products. Sales are conducted in approximately 150 countries worldwide under the brands TENA, Tork, JOBST, Leukoplast, Libero, Libresse, Lotus, Nosotras, Saba, Tempo, Vinda and Zewa.