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Factbox-What’s in a name? Rebranded McDonald’s outlets open in Russia -Breaking

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© Reuters. A view shows a flag with the logo of the new restaurant “Vkusno & tochka”, which opens following McDonald’s Corp company’s exit from the Russian market, in Moscow, Russia June 12, 2022. REUTERS/Evgenia Novozhenina

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(Reuters) – McDonald’s (NYSE:) restaurants flung open their doors in Moscow once again on Sunday under new Russian ownership and a new name, Vkusno & tochka, which translates as “Tasty and that’s it”.

We know this:

LOGO:

New logo: Two fries, a hamburger patty and the Golden Arches are now replaced.

BRANCHES:

Vkusno & tochka reopened on Sunday in Pushkin Square in what was McDonald’s first restaurant in Soviet Moscow in 1990, when it sold as many as 30,000 burgers, but the queue outside the restaurant was much smaller than three decades ago.

Executives announced on Sunday that 15 restaurants with a new name will be opening in the Capital and 200 more by June. All 850 restaurants are expected to open by July.

MENU:

McDonald’s Big Mac, the McDonald’s iconic Big Mac, is no longer available. However other highly-rated items can be found on a slightly smaller menu at slightly lower prices.

A double cheeseburger cost 129 roubles ($2.31) as opposed with 160 under McDonald’s. Also, you can get a fishburger at 169 roubles (compared to 190 earlier).

OWNERSHIP:

Alexander Govor, a Siberian businessman has assumed control of the franchise through his company GiD LLC. Since 2015, he has been a McDonald’s licensee and helped expand the franchise into Siberia. He also managed 25 McDonald’s restaurants.

Russian authorities say that McDonald’s Russia restaurants will be available for purchase within 15 years.

MANAGEMENT:

McDonald’s former Russian head Oleg Paroev is running the business as chief executive of Vkusno & tochka.

He had been with McDonald’s since the start of his career, and was the Russian chief financial officer from November 2021 to November 2021.

He was elected Russia McDonald’s Chief Executive Officer in February.

McDonald’s last month announced that Govor will keep the company’s employees in their tens and thousands for at least two more years.

($1 = 55.7500 roubles)

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