A Vodka Company Created A Whole Bank
Roustam Tariko made his first fortune importing a restricted product into Russia and breaking protocol by selling at stores anyone could access. This product was Ferrero Rocher chocolates. He moved on to importing alcohol then created Russia’s first own premium vodka brand. Vodka had always been popular in Russia of course, but up till this point, we guess people just made vodka from rotting potato peels, as anything more extravagant was previously banned under communism.
When Tariko’s new Russian Standard vodka debuted in 1998, it was a huge success. Then the government banned advertising vodka. Note: We had some trouble tracking down the exact ban that affected Tariko, but that’s not for lack of info on Russian ad bans. Instead (seriously), it’s because Russia has implemented so many bans on advertising alcohol, with new ones replacing rescinded ones and filling in the loopholes old bans left open.
None of these bans ended Russia’s vodka obsession, but this one did stand in the way of Tariko’s plans. Then he figured out a way he could advertise Russian Standard after all. He just, no big deal, took his money and founded a bank. He gave the bank the same name and logo as the vodka, so when people saw his new ads for the bank, they were also being advertised the vodka.
Business advisers didn’t like the idea at all because they figured, hey, that plan sounds all fine and good for the vodka brand, but it spells doom for the bank. People need to trust their bank, and as much as vodka means to people, it doesn’t inspire much trust. And yet Russian Standard ended up much more than just a gimmick to sell booze. In a couple decades, it become one of the biggest banks in the country, and Tariko himself became a billionaire.