• by Ray Schultz , March 14, 2022

Marketing tech firm Loyalty Ventures Inc. has taken steps to halt business in Russia, the company said on Monday.

However, it will honor its commitments for current programs with Russian grocery chain clients: These are contractual obligations, it says. 

But the company will not offer any new loyalty campaigns “for the time being,” it says.  

The shutdown will cost roughly $16 million (€15 million). The company’s total revenue was $735 million for the year ended December 31, 2021.

The firm states that most products it uses for its campaigns in Russian grocery stores are sourced internationally. None of its programs outside of Russia use products sourced from Russian suppliers, it adds.