FRANKFURT, Aug 7 (Reuters) - German nivea maker Beiersdorf said on Thursday it currently does not see any weakness in the Russian market.
“Russian consumers are not affected by the current discussions,” Chief Executive Stefan Heidenreich said in a conference call, adding that Beiersdorf is in fact gaining market share in the country.
Russia contributes around 4 percent to the group’s sales and Beiersdorf’s offering there is comparable to western European countries, Heidenreich added.
“The question is whether the situation will escalate politically and whether import bans on consumer goods are going to be imposed,” Heidenreich said. “At the moment we do not have great concerns (that this will happen).” (Reporting by Kirsti Knolle; Editing by Christoph Steitz)