- Yum! Models stated it had reached a deal to offer its 1,000 KFC outlets in Russia.
- The new homeowners are Russian businesspeople who currently hold KFC franchises.
- All KFC retailers in Russia will be rebranded as fast-foodstuff chain “Rostic’s”, The Moscow Times described.
The KFC model is about to vanish in Russia as far more than 1,000 retailers are rebranded as a regional quick-meals chain, The Moscow Moments documented.
Yum! Makes is offering some of its KFC eating places and franchises to Konstantin Kotov and Andrei Oskolkov’s Intelligent Service, the US corporation explained in a statement on Monday.
It said the potential buyers, who are already KFC franchisees, would be “liable” for trying to keep the company’s Russian staff and for rebranding the stores. The deal is subject matter to regulatory approval.
“Next the completion of the transaction, Yum! Makes will have ceased its company presence in Russia,” the company reported.
In March Yum! announced strategies to conclude operations in Russia next Vladimir Putin’s invasion of Ukraine.
Other quickly-food chains announced their exits from Russia previously this yr. Starbucks explained it was closing 130 suppliers in May possibly, as did McDonalds, which offered its 850 retailers to a regional businessman who has reopened some beneath a new identify.
Yum is selling 70 KFC dining places in Russia to Good Company, with the many others remaining independently franchised, for every The Moscow Occasions.
In accordance to Russian organization newspaper Kommerstant, Wise Assistance will be liable for rebranding all 1,000 shops as Rostic’s.
Previous month Yum Eating places Russia LLC registered rights to the Rostic’s model, Kommerstant reported, and the KFC outlets will start rebranding in early 2023.
Rostic’s was established by Venezuelan migrant Rostislav Ordovsky-Tanaevsky Blanco, nicknamed Rostik, and its initial retail store opened in Moscow in 1993, according to local media outlet Business District. It rivaled American quickly-meals merchants right until 2006, for every the report.
Yum! Manufacturers did not straight away respond to Insider’s ask for for comment.
Related Post
- Yum! Models stated it had reached a deal to offer its 1,000 KFC outlets in Russia.
- The new homeowners are Russian businesspeople who currently hold KFC franchises.
- All KFC retailers in Russia will be rebranded as fast-foodstuff chain “Rostic’s”, The Moscow Times described.
The KFC model is about to vanish in Russia as far more than 1,000 retailers are rebranded as a regional quick-meals chain, The Moscow Moments documented.
Yum! Makes is offering some of its KFC eating places and franchises to Konstantin Kotov and Andrei Oskolkov’s Intelligent Service, the US corporation explained in a statement on Monday.
It said the potential buyers, who are already KFC franchisees, would be “liable” for trying to keep the company’s Russian staff and for rebranding the stores. The deal is subject matter to regulatory approval.
“Next the completion of the transaction, Yum! Makes will have ceased its company presence in Russia,” the company reported.
In March Yum! announced strategies to conclude operations in Russia next Vladimir Putin’s invasion of Ukraine.
Other quickly-food chains announced their exits from Russia previously this yr. Starbucks explained it was closing 130 suppliers in May possibly, as did McDonalds, which offered its 850 retailers to a regional businessman who has reopened some beneath a new identify.
Yum is selling 70 KFC dining places in Russia to Good Company, with the many others remaining independently franchised, for every The Moscow Occasions.
In accordance to Russian organization newspaper Kommerstant, Wise Assistance will be liable for rebranding all 1,000 shops as Rostic’s.
Previous month Yum Eating places Russia LLC registered rights to the Rostic’s model, Kommerstant reported, and the KFC outlets will start rebranding in early 2023.
Rostic’s was established by Venezuelan migrant Rostislav Ordovsky-Tanaevsky Blanco, nicknamed Rostik, and its initial retail store opened in Moscow in 1993, according to local media outlet Business District. It rivaled American quickly-meals merchants right until 2006, for every the report.
Yum! Manufacturers did not straight away respond to Insider’s ask for for comment.
