Starbucks’ move follows McDonald’s exit from the Russian market last week. McDonald’s is selling its stores -- which are almost all owned by the company -- to an existing Russian franchisee. The stores won’t be allowed to use McDonald’s name or menu.
Starbucks entered the Russian market in 2007. In early March, after the Russian invasion of Ukraine, Starbucks announced that it would keep its Russian stores open but donate any profits to humanitarian relief efforts in Ukraine.
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Starbucks to end business in RussiaStarbucks Corp. is closing down its business in Russia, as the invasion of Ukraine puts an end to its 15-year presence in the market. Wonder how many of these franchises are in breach of contract. Good
Source: MarketWatch - 🏆 3. / 97 Read more »