US fast food giant McDonald’s announced on May 16 that it would leave the Russian market after Moscow’s invasion of Ukraine. On Sunday, McDonald’s restaurants reopened in Moscow with a new Russian property and a new name, “Vkusno-i tochka”, which translates as “Delicious and finished”. Here’s what we know:

The famous Golden Arches have been removed and replaced with a new logo, which looks like the letter “M” and consists of symbols representing two french fries and a hamburger on a green background. CEO Oleg Paroev, a former Russian head of McDonald’s, said the new company had come up with the new name – a well-kept secret – just a day before its release on Sunday. There has been some speculation on social media about the best way to translate the new name into English. “Tasty and that’s it” was widely adopted, although another suggestion was: “Tasty. Dot or dot”.

Branches:

“Vkusno-i tochka” reopened Sunday in Pushkin Square to what was McDonald’s first restaurant in Soviet Moscow in 1990, when it sold up to 30,000 burgers, but the queue outside the restaurant was much shorter than before. from three decades. The chain will retain the old McDonald’s interior but will remove any trace of its previous name. Initially, 15 restaurants under the new name will open in and around the Russian capital and another 200 restaurants by the end of June and all 850 by the end of the summer, executives said. The new owner said up to 7 billion rubles ($ 121 million) would be invested this year in the company, which employs more than 50,000 people.

McDonald’s Big Mac flagship and other burgers and desserts like the McFlurry are missing, but other popular items are on smaller menus and sold at slightly lower prices. A double cheeseburger cost 129 rubles ($ 2.24) compared to about 160 rubles at McDonald’s and a fish burger for 169 rubles, compared to about 190 before. Paroev said the chain would keep prices “affordable”. They are likely to rise due to inflation, but not higher than competitors’ prices, he said. Most of the ingredients come from Russia, but some items were not immediately available due to logistical difficulties and because some suppliers have left Russia. For example, the company has to find a new supplier of soft drinks after the suspension of Coca-Cola’s activity in Russia due to the war in Ukraine.

Property:

Siberian businessman Alexander Govor took over the franchise through GiD LLC. He has owned a McDonald’s license since 2015 and has helped the chain expand into remote Siberia, where it operates 25 restaurants. McDonald’s will be able to buy its restaurants in Russia within 15 years, Russian authorities said. Govor told reporters Sunday that the price he paid was “much lower than the market price” and was a “symbolic” number. The US chain owed $ 1.4 billion for the deal. McDonald’s did not respond to a request for comment on the price. Russia and Ukraine accounted for about 9 percent, or $ 2 billion, of McDonald’s revenue last year.

Management / staff:

Prior to the acquisition, Paroev had worked for McDonald’s for seven years, including being the financial director of the Russian company for 6 1/2 years until November 2021, according to his LinkedIn profile. He was appointed CEO of McDonald’s Russia in February, weeks before Moscow sent tens of thousands of troops to Ukraine on February 24. Govor will retain the chain’s tens of thousands of employees for at least two years, the US company said.