Amway ends business operations in Russia

0

ADA TOWNSHIP, Mich. (WOOD) — Ada-based Amway announced that it has decided to begin winding down its operations in Russia.

Starting July 1, Amway announced that it would begin to scale back its operations in Russia. The company said it would support those affected by its decision while meeting its contractual and legal obligations, according to a Wednesday press release.

The company said it was the first time in Amway’s 63-year history that it exited a market.

“What makes this decision so heartbreaking is our enduring belief in providing economic opportunity, meant for all. After exploring all possible options, we have reached a point where economic, technological, organizational and operational circumstances made it impossible to operate in Russia,” the statement read.

Amway’s presence in Russia for 17 years is significant. About half a million Russians are Amway distributors, generating about $200 million in annual sales.

In MarchAmway announced that it has suspended imports of products from Russia.

According to Herald PalladiumBenton Harbor-based Whirlpool Corp. also announced it was no longer doing business in Russia.

` ) ); // Embed Facebook script (function (d, s, id) { var js, fjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.src=”https://connect.facebook.net/en_US/sdk.js#xfbml=1&version=v2.12&appId=166116077300962&autoLogAppEvents=1″; fjs.parentNode.insertBefore(js, fjs); }(document, ‘script’, ‘facebook-jssdk’)); // Twitter script integration (function (d, s, id) { var js, tjs = d.getElementsByTagName(s)[0]; if (d.getElementById(id)) return; js = d.createElement(s); js.id = id; js.setAttribute(‘async’, ”); js.src=”https://platform.twitter.com/widgets.js”; tjs.parentNode.insertBefore(js, tjs); }(document, ‘script’, ‘twitter-js’)); } // Simplify some things iframe var iframes = $(‘iframe’); iframes .filter( ‘.responsive’ ) .each( function( _, frame ) { // 16×9 ratio responsive iframes var $frame = $(frame); $( frame ).css({ position: ‘absolute’, top: 0, left: 0, right: 0, width: ‘100%’, height: ‘100%’, }).parent().addClass( ‘wood-responsive-container wood-responsive-container-16×9’ ); } ); var lazyFrames = iframes.filter(‘[data-lazy-src]’); function woodMakeLazyFrame( selector ) { var observer; var options = { root: null, rootMargin: ‘0px’, threshold: 0, }; function handler(inputs, observer) { inputs.forEach(function(input) { var ioR = entry.intersectionRatio; if(ioR > 0) { entry.target.src = entry.target.dataset.lazySrc; observer.unobserve( input .target); } }); } observer = new IntersectionObserver( handler, options ); observe. observe( selector ); } lazyFrames. each( ( _, frame ) => woodMakeLazyFrame( frame ) ); }); }(jQuery))

Share.

Comments are closed.