Starbucks Corp will leave the Russian market after almost 15 years. This was announced by the coffee chain, which joins McDonald’s Corp to mark the end of the presence of some of the main Western brands in the country. Seattle-based Starbucks has 130 stores in Russia, owned and operated by licensee Alshaya Group, with nearly 2,000 employees in the country.
In this regard, McDonald’s has announced that it will sell its restaurants in Russia to its local licensee Alexander Govor for rebranding under a new name, but will retain its trademarks. McDonald’s had said it would take a primarily non-cash charge of up to $1.4 billion.
Starbucks, which opened its first store in Russia in 2007, says it will continue to support its employees there, including paying them for six months.
