Starbucks sold assets in Russia for 500 million rubles – Kommersant

The amount of the transaction for the sale of Starbucks assets in Russia amounted to about 500 million rubles, said Anton Pinsky, co-owner of the Stars Coffee chain of coffee houses. He said that the average bill in the chain of coffee houses has grown, but this was due to the expansion of the assortment.

“About 500 million (the purchase of Russian assets of the network cost.— “b”). We bought, in fact, a closed business that did not bring profit. The Starbucks chain has announced that it is leaving Russia. Her clients went elsewhere for coffee. We had to return them,” Mr. Pinsky said in an interview with TASS.

He claims that several outlets were “deliberately closed due to the terms of the lease”, instead of them opening cafes “in new locations where Starbucks has never been.” “I think we will return the money spent on the acquisition and restart of assets before the end of the year,” Anton Pinsky believes.

According to him, the chain of coffee houses “qualitatively improved the product.” “Earlier, the average check was around 430 rubles, ours became 580 rubles, but this happened due to the expansion of the assortment. In terms of profit and turnover, we are now doing much better, ”the entrepreneur assured.

Starbucks closed their cafes in Russia in March 2022 against the background of the Russian military operation, and in May the network stated about final care. In July of the same year became known on the buyout of Russian assets by rapper Timati, restaurateur Anton Pinsky and Senator Arsen Kanokov’s company Sindika. The first Stars Coffee house opened 18 August.

Laura Keffer