Revolution Bars has 67 sites across the UK (Revolution/PA)
(Picture: PA Media)Cocktail group Revolution Bars is reviewing its supplies of Russian vodka as a growing number of businesses cut ties with Russia over the war in Ukraine.
CEO Rob Pitcher said Revolution was “reviewing” its relationship with an unnamed Russian vodka brand. The brand is only used in the company’s cocktails. Revolution’s principal supplier of vodka is Ketel One, which is made in Holland.
Many Western businesses have announced a boycott of Russian-made goods in protest at the invasion into Ukraine by Russian forces. Australian drinks retailer Endeavour has announced a suspension of the sales of Russian-made products. In the US, Ohio Governor Mike DeWine instructed the state’s Department of Commerce to suspend sales of Russian Standard vodka.
UK Business Secretary Kwasi Kwarteng has urged businesses to go above and beyond the sanctions announced by the West over the weekend. Kwarteng wants businesses “isolating Russia, both diplomatically and financially.”
News of the supply review comes as Revolution posted a more than doubling of sales in the second half of 202 to reach £74 million, bouncing back to pre-pandemic levels bolstered by students returning to university campuses.
Like-for-like sales went up 14% after the easing of restrictions, as the business turned a profit for the first time since before the pandemic.
Pitcher said: “We traded exceptionally well up until plan B kicked in.
“We’ve just agreed heads of terms on our next new site and our plan is to grow the estate by 10% in the next year.”
Revolution Bars, known for its Revolution and Revolución de Cuba cocktail bar brands, has 67 sites across the UK, predominantly in student towns and cities.
Pitcher is confident the company’s student-orientated business model will help it weather inflationary pressures.
“The fact we’ve got quite a young guest base means they’re mainly students so they’re well insulated against the increased costs of living,” he said.
Improvements to the company’s sustainability policy have allowed Revolution to mitigate 50% of the rise in energy costs, Pitcher said.
Shares in Revolution Bars shot up 7.5% in early trading.
