SPI says its decision is part of SPI owner, Yuri Shefler’s global strategy to focus on its key international portfolio – at the core of which is Stolichnaya.
Recently SPI set up its own importing company in the US. The New York based company starts distribution on January 1.
SPI Group has owned Kremlyovskaya (or “Kremly” to its loyal consumers) since 2003 and has secured the ownership of the trademark across nearly 200 countries.
Classic International has been established by a private financial trade group to develop alcoholic brands. The company has obtained a license to sell the brand in Russia from the State Enterprise “Torgoviy Dom Kremlevsky”.
SPI CEO Val Mendeleev said: “Following the recent sale of our property development business in Russia, we continue to consolidate efforts on the core business and new exciting opportunities. The capital generated by the sale of the Kremlyovskaya brand will be deployed to acquire premium wine assets”.
SPI says Kremlyovskaya was the first international post-perestroika premium Russian vodka. Created in the early 1990s, with a premium bottle designed by UK design studio Claessens, Kremlyovskaya, at its peak, sold more than five million nine-litre cases. The Kremly brand today has range of flavours - plum, melon, grapefruit, chocolate, apricot, blackcurrant and vanilla.