Beluga Group plans to change its name to NovaBev Group – Kommersant
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Beluga Group, the largest alcohol company in Russia, is discussing the possibility of changing its name to NovaBev Group (PJSC NovaBev Group). The matter is currently under consideration by the shareholders of the group. The final decision will be made on August 23.
According to press release company, the version of the new name consists of two parts: Nova (Latin for “new star”) and Be + V (from English beverages – “drinks”). The first part is a reference to the scale of the company and its commitment to innovative approaches. The second one connects the names Beluga and VinLab, emphasizing the connection between production and distribution of brands.
The company clarified that several factors became the prerequisites for the name change. Among them, the Beluga Group indicated the ongoing development of the company. According to the group, the existing name no longer reflects its essence and is in line with the business diversification strategy.
The Beluga Group also noticed that the external audience mistakenly takes the group’s brand for the vodka brand of the same name and vice versa. “Due to the name, which partially coincides with the flagship, the group is perceived as a vodka, however, over the past few years, as part of the diversification of operations, it has taken on leading roles among Wine & Spirits importers, and brands occupying top positions in all key categories of alcoholic beverages,” the press release says.
In the first quarter of 2023, Beluga Group (Beluga, Belenkaya, Myagkov) reduced vodka production by 11%, to 1.96 million decalitres, year-on-year. The group previously explained that the results of the first quarter of 2023 were affected by abnormal shipments in March 2022 associated with political events.
Read more about the situation on the market – in the material “Kommersant” “Vodka was put in its place”.
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