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After McDonald's pulled out of Russia when the war in Ukraine started last year, its restaurants were rapidly taken over by a Russian replacement called Vkusno I Tochka ("Tasty, period") which now plans to introduce its own Happy Meal, The Kids Combo
By the end of 2Q22, the common belief was that the Russian economy was already hurtling towards disaster, buckling under the weight of sanctions. But it didn't happen. A lot of damage has been done to the economy, but what went right?
Restaurants that closed after sanctions on Russia hit supply chain are back in business with no brand on the door.
Franchisee banned by US parent corporation from purchasing Russian meat supplies. Alternative sourcing would apparently mean running business at a loss.
Closure reportedly follows disputes concerning unpaid rent and alleged political involvement.
Russia’s Insight Investment Group has purchased a leasing company from the German engineering giant Siemens and is considering buying more lessors and fintech firms as the M&A tsunami unleashed by the Western sanctions on Russia continues.
While McDonald's in Belarus was initially planned to be replaced by its successor in Russia, Vkusno i tochka, officials in Minsk have likely ensured that the Russian investor has been kept out.
Foreign investors are coming under increasing pressure to divest from Belarus due to the regime’s human rights abuses, and Belarusian strongman Alexander Lukashenko is helping to speed up the process.
Franchisee introduces indefinite closure of all restaurants. Supply issues are cited, but details are scarce.
The Russian successor to McDonald's "Vkusno i tochka" will soon enter the Belarusian market.
The extreme sanctions imposed on Russia after the invasion of Ukraine have thrown Russian business into chaos. In the space of a week products and inputs that are essential for production simply stopped arriving even if they were not sanctioned.
Siemens may sell its Russian leasing arm to a Russian investor. Local media reports that one of the frontrunners could be linked to sanctioned businessman Said Gutseriev. The deal may be worth as much as €800mn, according to bne sources.
Russia’s economy seems to be doing a lot better than was expected. The International Monetary Fund recently improved its growth outlook for this year.
Russia’s industrial output fell 1.8% in June y/y, following a 1.7% decline in the previous month but less than market forecasts of a 5.3% contraction, RosStat reported on July 27.
Less than 5% of German companies have decided to leave the Russian market as a result of the war, as other foreign brands quit Russia en masse.
Social media abuzz over closures after McDonald’s withdrawal from neighbouring Russia earlier this year.
The Ukrainian War is no laughing matter, but the Russians are doing their level best to make it funny. Coverage of the war is extensive, but observers have overlooked the comedy inadvertently provided by the Kremlin.
Swedish furniture major IKEA will scale down its business in Russia, lay off some employees, sell off inventory, and will start looking for buyers for its four Russian plants.
Russia's answer to McDonald's has released its new logo. The brand was created after McDonald's withdrew from Russia and sold its assets to a licensee. The first new restaurants operating on former McDonald's sites are due to open on June 12.