- Yum! Yum!
- Russian businessmen are now the new owners of KFC franchises.
- The Moscow Times reported that all KFC outlets in Russia would be rebranded as “Rostic’s”, a fast-food chain.
The Moscow Times reported that KFC is in danger of disappearing in Russia. More than 1,000 KFC stores have been rebranded to become a local fast food chain. reported.
Yum! Yum! StatementMonday
The company stated that the new buyers, who are already KFC franchisees would be responsible for the retention of the Russian workers and for rebranding their stores. The deal is subject regulatory approval.
Yum! “Brands will have ceased their corporate presence Russia,” said the company.
Yum! Following the invasion of Ukraine by Vladimir Putin, Yum!
Other fast food chains also announced earlier this year that they were leaving Russia. Starbucks claimed it was closing 130 storesIn May, as did McDonaldsThe company sold its 850 stores in the area to a local businessman. Some of the reopened cases were given a new title.
According to The Moscow Times: Yum sells 70 KFC restaurants in Russia directly to Smart Service.
According to Russian business newspaper KommerstantSmart Service will take over the rebranding of all 1,000 Rostic’s stores.
Kommerstant reported last month that Yum Restaurants Russia LLC registered rights for the Rostic’s name. KFC stores are expected to rebrand themselves in the first quarter of 2023.
Rostic’s was established by Rostislav Ordovsky Tanaevsky Blanco (a Venezuelan immigrant), and its first Moscow store opened in 1993. Local media outlets claim that it was named Rostik. Business District. According to the report, it was comparable to American fast-food restaurants until 2006.
Yum! Insider reached out to brands for comment but they did not immediately reply.
