BELUGA GROUP plans renaming

august 3 /2023

The Russian alcohol company BELUGA GROUP plans to rebrand as NovaBev Group (NovaBev Group PJSC). The issue is under consideration by the shareholders of the group from today, the final decision will be made on August 23.

The proposed change reflecting several key factors:

·         As the company has grown and evolved, the existing name stopped reflecting the multi-dimensional nature of the business and its core essence, being misaligned with the current diversification strategy of the brand. Currently, the company has an innovative, vertically integrated business model. It seamlessly unites production, distribution, and retail operations, producing a synergistic effect that boosts all these aspects of the business.

·         WineLab, becoming increasingly important for the group and being a standout in the broader industry, is propelling the company's expansion into e-commerce.

·         However, broader audiences still predominantly associate Beluga with a vodka brand, so the need arose to distinguish between the company and its brand, especially since the international sales rights to the Beluga brand were sold.

·         The group is commonly perceived as a vodka company due to the name overlap with the flagship brand. However, through strategic diversification, the company has evolved into a prominent importer of Wine & Spirits. Its portfolio now hosts top-tier brands across all key alcohol categories.

The new version of the group's name, NovaBev, consists of two core elements. Nova (Latin for "new star") signifies the company's large scale, leading positions within the industry, and commitment to innovation. Be+V (short for "beverages") also combines the names Beluga and WineLab (V and W sound the same in Russian), emphasizing the synergy between producing and distributing leading brands, supported by the group's own retail sector, and further highlighting its diverse portfolio.

The new name and corporate style are to be adopted to underscore the unique business model, clearly differentiate the company's brands from vodka, and focus on the wider assortment of spirits and wines.

Under any decision of shareholders, the group's organizational and legal structure, strategy, management, and business processes remain unchanged. Banking details and contact information remain the same. For shareholders, employees, partners and consumers, the new name will not affect obligations.

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