13.06.2023, 08:18
Starbucks assets in Russia sold for 500 million rubles
Source: OREANDA-NEWS
OREANDA-NEWS The amount of the transaction for the sale of Starbucks assets in Russia amounted to about 500 million rubles. This was announced in an interview with TASS by Anton Pinsky, co-owner of the Stars Coffee chain. "About 500 million (rubles). We were essentially buying a closed business that was not profitable. The Starbucks chain announced that it was leaving Russia. Her clients went to other places for coffee. We had to return them," he said.
Pinsky recalled that the main part of the Stars Coffee chain, which replaced Starbucks in Russia, was launched in late September - early October last year. And if in November the new chain lagged behind the indicators of Starbucks, then in January it equaled, and in February it exceeded.
"Several outlets were deliberately closed due to the terms of the lease. We made offers to the owners, someone agreed, and in some places did not meet them halfway. So, so be it. At the same time, we are already opening points in new locations where Starbucks has never been, and they work no worse than others. Even franchises began to be sold. In short, the project is developing successfully. I think the money spent on the acquisition and restart of assets will be returned by the end of the year," he said.
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