The Boycott of Israel’s Allies, Funded by the Saudis
McDonald’s executives reached a point where they had to publicly announce that they have no association, sympathy, or collaboration with Israelis. In fact, many companies, by any means, have reached a point close to loss in Islamic countries.
If the situation is slightly better for some companies like Starbucks and Coca-Cola because their franchises are under pressure, for well-known and top-tier luxury brands like Louis Vuitton, losing revenue from wealthy Arabs can be significant. An interesting point here is that the management of major American fast food and food companies in important Islamic countries is handled by the large company American Restaurants.
This company belongs to the Saudi National Investment Fund, and it is the Saudis who receive the main income from the sale of products from well-known companies like KFC, Pizza Hut, and Krispy Kreme in the Middle East and Kazakhstan. This company experienced a 40% decrease in revenue in the second quarter of 2024. This trend of change in consumption among Muslims and supporters of the Palestinian people will continue, and it remains to be seen what famous companies and Arab businessmen, who own or partner in many of these businesses, will do.