Volkswagen also said it sold its Russian operations for €125 million. Name and explain the growth strategy that Famous Brands is using.

1. Market penetration
2. Market development
3. Product development
4. Diversification

Organic Growth Strategies:

- Market penetration: Increasing sales of existing products and services to existing customers.
- Product development: Creating new products or services to sell to existing customers.
- Market development: Selling existing products or services to new customer segments.
- Internal expansion: Investing in capital projects, R&D, and operations to improve efficiency and capacity.

Inorganic Growth Strategies:

- Mergers and acquisitions (M&A): Combining with or acquiring other companies to gain market share, capabilities, or technology.
- Joint ventures: Forming partnerships with other companies to share risks and resources in new ventures.
- Strategic alliances: Creating long-term partnerships with other companies to access new markets, products, or technology.

Other Growth Strategies:

- Licensing: Granting permission to other companies to use your intellectual property in exchange for royalties.
- Franchising: Establishing a business model that allows others to operate under your brand and business concept.
- Diversification: Expanding into new products, services, or markets to reduce risk and increase revenue streams.
- Innovation: Developing new ideas, products, or services that drive growth and competitive advantage.
- E-commerce expansion: Growing sales through online channels and expanding into new markets.