McDonald’s new brand name in Russia could be ‘Fun and Tasty’ & More Trending News

 

The firm stated on Friday that the emblems registered with Russia’s Rospatent company, from which it in the end deliberate to decide on one brand, additionally included “Just Like That” and “Open Checkout.”

The world’s largest burger chain has practically 850 eating places in Russia, and it is promoting these shops to native licensee Alexander Govor, who runs an operation of 25 eating places. Govor will function the brand beneath a new name in Russia, and different franchisees will be given the choice of working beneath the new brand.

McDonald’s (MCD) had introduced earlier this month that it could go away Russia altogether in response to the nation’s army marketing campaign in Ukraine and the following wave of Western outrage and sanctions. The firm, which owns 84% of its eating places in Russia, is likely one of the largest worldwide manufacturers to go away because the February invasion.
Initially in March, shortly after the conflict started, McDonald’s adopted different Western corporations in quickly shutting down its eating places in Russia.
The choice brings to an finish McDonald’s three-decade relationship with Russia. McDonald’s opened the doorways of its first restaurant in Moscow on January 31, 1990. More than 30,000 have been served and the Pushkin Square location needed to keep open hours later than deliberate due to the crowds.

Its arrival in Moscow was about extra than simply Big Macs and fries, famous Darra Goldstein, a Russia professional at Williams College. It was essentially the most distinguished instance of Soviet Union President Mikhail Gorbechev’s try to open up his crumbling nation to the surface world.

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“There was a really visible crack in the Iron Curtain,” she beforehand stated. “It was very symbolic about the changes that were taking place.” About two years later, the Soviet Union would collapse.

McDonald’s will take a major write-off from exiting Russia — between $1.2 billion to $1.4 billion.

In its most up-to-date earnings report, McDonald’s stated closing its eating places in Russia had value it $127 million final quarter. Nearly $27 million got here from workers prices, funds for leases and provides. The different $100 million was from meals and different objects it should dump.

McDonald’s had 847 eating places in Russia on the shut of final yr, in response to an investor doc. Together with one other 108 in Ukraine, they accounted for 9% of the corporate’s income in 2021.

— CNN Business’ Jordan Valinsky and Danielle Wiener-Bronner contributed reporting.

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