AhlulBayt News Agency (ABNA): Western brands in Malaysia find themselves embroiled in controversy as accusations of ties to the Israeli regime trigger a significant drop in revenue.
Amid widespread boycotts by Malaysian consumers, companies like Starbucks are feeling the pinch, with revenues plummeting by nearly 40 percent, Saudi Arabia-based Arab News reported on Saturday.
The boycott, propelled by anger over the Israeli regime’s ongoing atrocities in Gaza, has gained momentum across Malaysia with citizens increasingly shunning products from companies supporting Israel or facilitating its invasion of Gaza.
Starbucks Malaysia, a prominent target of the boycott, recently revealed the toll of the campaign on its business. In a filing to the Malaysian stock exchange, its parent company Berjaya Foods reported a sharp decline in revenue, citing the boycott as a primary factor.
Revenue for the second quarter ending December 31 dropped to 182.55 million ringgit ($38.47 million), down from 295.32 million ringgit ($62.23 million) during the same period the previous year.
The situation has escalated beyond economic repercussions, with Starbucks Malaysia reporting incidents of violence and vandalism in some of its 400 stores. Although specific details were not provided, the company attributed these acts to the ongoing boycott.
In a statement, Starbucks claimed it has no stores in the occupied territories and does not provide financial support to the Israeli regime.
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