MOSCOW: PepsiCo, the US soft drinks giant, plans to invest $1 billion (€718m; £617m) in Russia over the next three years, as part of its "ongoing strategy to expand in emerging markets."
Late last year, the company announced it would dedicate $1bn to developing its operations in China, and Indra Nooyi, its chairman/ceo, has recently stressed the importance of thinking "differently and disruptively" in the Asian nation.
Mexico is another market receiving an increased focus from the Atlanta-based firm, which will spend $3bn on advertising and R&D across its food and beverage businesses in the country.
PepsiCo began selling its main brand in Russia in 1974, and its cumulative investment there has reached $3bn over the last decade.
A large portion of this total was accounted for by its $1.4bn takeover of Lebedyansky, one of Russia's biggest domestic juice manufacturers, in 2008.
Much of the latest funding earmarked for the country will be directed towards boosting its manufacturing and distribution capacity in the domestic market.
To this end, Pepsi is set to open a new bottling plant in Domodedovo this week, which will deliver brands including Pepsi Cola, Aqua Minerale and Lipton Iced Tea.
Nooyi said the "investment reflects very clearly our great confidence in Russia and our long-term commitment to this very important market."
"We are optimistic about the future of Russia, and we look forward to continuing to build our businesses here," she added.
Data sourced from PRNewswire; additional content by WARC staff