Olvi, the largest Finnish-owned brewery and soft drinks company, has announced its decision to discontinue its presence on the social media platform X, previously known as Twitter. The company’s withdrawal is set to take place by the end of the year, marking a strategic pivot in its digital communications approach.
A Shift in Priorities
The brewery’s press office revealed that Olvi has decided to channel its focus toward platforms with greater potential for customer engagement, including Facebook, Instagram, LinkedIn, and TikTok. The company stated, “X has become less significant, and our presence there has always been modest.” With fewer than 2,000 followers on X, Olvi’s activity on the platform has been minimal compared to its other channels.
Industry Trends: A Broader Departure from
Olvi’s exit follows similar moves by other organizations. This trend comes amidst sweeping changes introduced by X’s owner, Elon Musk, aimed at fostering free speech and reducing censorship. While some have praised these updates, others question their impact on the platform’s appeal to brands.
These developments highlight a growing divergence between X’s evolving ethos and the priorities of companies seeking targeted, efficient communication with their audiences.
Social Responsibility Amid Geopolitical Tensions
In March 2022, shortly after Russia's invasion of Ukraine, Olvi demonstrated its commitment to social responsibility by announcing its withdrawal from the Belarusian market, including its subsidiary, Lidskoe Pivo, the largest brewery in Belarus (inside.beeer, 5.3.2022)
However, Olvi's plans faced complications. The Belarusian government imposed a sales ban in July 2022, listing 190 companies whose foreign shareholders cannot dispose of shares without official permission. Among these is Lidskoe Pivo, in which Olvi holds a 96.4% stake.
As reported in its Q1 2023 financial statement, Olvi has halted the planned sale of Lidskoe Pivo due to these restrictions. “The company’s shares are subject to a sales ban, as a result of which Olvi has discontinued the process to sell Lidskoe Pivo,” the brewer stated, highlighting the ongoing challenges of operating under such constraints.
Olvi: A Legacy of Quality and Innovation
Founded in 1878 as Iisalmen Oluttehdas (Iisalmi Brewery), Olvi has built a storied reputation for quality and innovation. Its first beer was introduced in 1880, and by 1906, the brewery had expanded its offerings to include soft drinks. A major milestone occurred in 1952, when Olvi adopted its current name after acquiring rights from a defunct Helsinki-based brewery.
Olvi operates globally, producing a diverse range of beverages, including beers, soft drinks, energy drinks, and mineral water. Its portfolio includes subsidiaries in Denmark, Latvia, and Estonia, and it generates annual revenues exceeding EUR 500 million.
Implications for the Social Media Landscape
Olvi’s departure from X is emblematic of a larger transformation in the social media industry. As businesses reassess where and how they engage with audiences, platforms like X face growing scrutiny regarding their relevance and effectiveness for marketing purposes.
For Olvi, the decision underscores a commitment to adapting its strategies to meet evolving consumer behaviors and communication trends.
