(MENAFN) The ambitious project to introduce a vodka named after Ukraine's President, Volodymyr Zelensky, has faced a setback, as reported by Russian news outlet Octagon. The venture, initiated by a Swiss-based startup, aimed to contribute funds to support Kiev, but sales in both European and American markets fell short of expectations.
According to reports from Octagon, Swiss authorities took the decision last September to dissolve the company operating under the Zelensky Vodka brand, as evidenced by an entry in the commercial register of the Canton of Zug. The entry outlined that DrinkForPeace AG would undergo liquidation in compliance with bankruptcy regulations.
Octagon further revealed that DrinkForPeace had secured an agreement with authorities to temporarily halt the dissolution proceedings while attempting to sell off remaining inventory.
Launched in March 2022 amid escalating tensions between Russia and Ukraine, the Zelensky vodka project was spearheaded by Swiss entrepreneur Tobias Reichmuth and Ukrainian fashion designer Anastasiia Rosinina. Notable contributors to the initiative included Swiss manager Georgia von Gleichen and start-up entrepreneur Matthias Zwingel.
The distinctive Zelensky vodka bottle featured Ukraine's president against the backdrop of the country's blue and yellow flag, accompanied by the slogan 'Help Ukraine' and the hashtag "drink for peace." Promoted as a premium wheat-based spirit, the vodka was reportedly produced and distilled in both Germany and Switzerland.
The project founders made a commitment to donate all proceeds to Ukraine until 2026, with an additional EUR5 per bottle earmarked for selected non-governmental organizations within the country. The recommended retail price for a 0.7-liter bottle was set at EUR29.90 (approximately USD32).
Despite its noble intentions and premium quality, the Zelensky vodka project's failure to meet sales targets underscores the challenges faced in leveraging consumer goods for humanitarian aid efforts amidst geopolitical tensions.
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