Monday, May 29, 2017

Vineksim files for bankruptcy

Following a three year run of trouble, alcohol distributor Vineksim has filed for bankruptcy.

Vineksim, which has resisted state agencies, had become known as the "Company of one product" over the last three years, Mir66 reports, known only for its Putinka brand vodka, which experts do not expect to disappear from the market despite the bankruptcy filing.

The company's Putinka vodka first hit the market in 2003, with the sales of Putinka growing through 2011 behind the marketing strategy of Stanislav Kaufman, the vice president of marketing for Vineskim. This is not the first time that a vodka named after a politician has fared well in vodka - Zhirinovsky was one of the 1990s best selling brands.

Following the success of Putinka, Vineksim brought the "Volodya and bears" vodka to market behind the launch of its informally named "United Russia" campaign, according to Mir66.

The new vodka venture, however, was met with resistance by government agencies and the party of power failed to support the brand. Rospatent refused to register the new vodka, with the decision challenged in court. Rospatent then hit back with a complaint in superior court. That legal fight remains ongoing despite the bankruptcy.