The transaction amount for the sale of Starbucks’ Russian business was approximately 500 million rubles, Anton Pinsky, owner of Stars Coffee, told TASS.
“About 500 million (roubles). We bought an essentially closed business that was not making a profit. The Starbucks chain has announced that it is leaving Russia. His customers went elsewhere for coffee. We had to return them,” Pinsky said.
In March 2022, due to the entry of Russian troops into the territory of Ukraine, Starbucks stopped deliveries to the Russian Federation and closed its stores. The new owners of the business are the restaurateur Anton Pinsky, the singer and businessman Timati and the Sindika company of Senator Arsen Kanokov. In August, the first coffee shop was opened under the new Stars Coffee sign on Novy Arbat.
According to Pinsky, Stars Coffee fell behind Starbucks in November and surpassed it in January and February. Some locations where Starbucks was previously located had to close due to inadequate lease terms. But the company is launching Stars Coffee in places the American chain has never been, Pinsky added.
He also highlighted that the company managed to improve the quality of the drinks and “improve the product”.
“The coffee is milder because Starbucks had a dark roast problem that made the drinks bitter. And they didn’t do very well with the food because all 30,000 cafes around the world were offering the same game,” says Pinsky.
According to him, the company had to raise prices due to the expansion of the range. If the average check at Starbucks was 430 rubles, then at Stars Coffee it increased to 580 rubles.
“In terms of profit and billing, we’re doing much better now,” Pinsky explained.
At the end of November, Pinsky sold 33.33% of Resurs-M, which owns the rights to the Todasho sushi restaurant chain.
Author:
Natalia Gormaleva
Source: RB
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