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A. Korkunov

A. Korkunov is a luxury chocolate maker in Russia, founded in 1999 by two entrepreneurs, Andrey Korkunov and Sergey Lyapuntsov. The company has a production facility in Odintsovo,[2] just outside Moscow, and sells its chocolate products across Russia and internationally.

A. Korkunov has been named a "Top 10" brand in Russia by both Young & Rubicam and the Rus Brand Independent Organization.[3] It is also the only native Russian brand with an awareness level on par with those of leading global consumer goods brands—such as Sony, Gillette and BMW—according to the Young & Rubicam "Power Brand" ranking. The company drew from the emblems and old writings of Tsarist Russia to connect the brand with richness and luxury.[4] Outside of Russia and the CIS, A. Korkunov products are sold in the United States, Germany, Lithuania, and China.[5]

On January 23, 2007 The Wm. Wrigley Jr. Company signed a purchase agreement to acquire an 80 percent initial interest in A. Korkunov for $300 million with the remaining 20 percent to be acquired over time.[6] The acquisition had entered Wrigley into the chocolate business for the first time.[3] In 2006, Korkunov had $100 million in sales worldwide, produced 25,000 metric tons of chocolate, and exported 5% of that from Russia.[6]

In December 2012 A. Korkunov opened a chocolate boutique in Moscow selling 15 types of hot chocolate and freshly made products from the production facility in Odintsovo.[7] Possible future plans include more boutiques throughout Russia if the logistic problems can be solved.[7]

See also

  • Food industry of Russia

External links

References

  1. [https://www.nytimes.com/2007/01/24/business/worldbusiness/24iht-wrigley.4323681.html Wm. Wrigley Jr. acquires chocolate company] on The New York Times. 24 Jan 2007^
  2. Baydin Vladimir. Private Equity Russia & CIS Journal #8: Topic of the issue: 2011 Results, 2012 Anticipations Private Equity Russia & CIS Journal, 2012^
  3. Wrigley Co. buys Russian chocolate maker UPI, retrieved 2022-10-28^
  4. Julia Bernstein. Food for Thought: Transnational Contested Identities and Food Practices of Russian-Speaking Jewish Migrants in Israel and Germany Campus Verlag, 2010^
  5. A. Korkunov Superbrands, retrieved 2023-01-13^
  6. Wrigley moves into chocolate market with $300M purchase of Russia's Korkunov USAToday.com, retrieved 31 August 2015^
  7. Lena Smirova. Korkunov opens new chocolate boutique in Moscow RBTH, Moscow Times, retrieved 31 August 2015^