Starbucks business in Russia is sold to pro-war entrepreneurs
Start writing a post
News

Starbucks business in Russia is sold to pro-war entrepreneurs

supporting the war take co-ownership of Starbucks Russia

66
Starbucks business in Russia is sold to pro-war entrepreneurs

Restaurateur Anton Pinskiy officially became a co-owner of Starbucks Corp’s coffee shops in Russia. While this is massive news for Pinskiy, who is continually expanding his business empire in the food industry, others are worried that the legacy of Howard Schultz will be run over by entrepreneurs supporting the war in Ukraine.

As Starbucks Russia is being sold to pro-war entrepreneurs, many are discussing how the move would affect the chain in the country and what changes the new co-owner will implement in the values of the brand.

Pinskiy has long been in the restaurant industry as an owner but does not have any experience running a coffee chain. In fact, in aninterview to Xenia Sobchak, a famous Russian journalist, he admitted that he never even drank coffee.

In Pinsky's team is a Russian rap singer Timati (who has a song devoted to his friendship with Vladimir Putin) and a member of the Federation Council, which approved the Russian invasion of Ukraine. Both of those people have been vocal in their support of the war Russia has declared against Ukraine. In addition, a critic noted that the new owner and his team have been selling Starbucks stores to third parties in different cities across Russia, emphasizing that it is a strange move devaluing the brand.

Pinskiy partnered with rapper Timati to seal the offer and the Sindika holding company. “Judging from the fact that we are now closing the deal, we made just the right offer,” Pinskiy told Forbes on Friday after sealing the deal. The entrepreneur did not elaborate on the details of the transaction but disclosed that he first approached Starbucks in March until finally closing the agreement after a few months.

Timati, born Timur Yunusov, released a song in 2015 called “My Best Friend is Vladimir Putin.” He also set new records on YouTube and has been vocal about using rap music to promote his political stand. Furthermore, Timati has partnered with the Russian army to release a clothing line. However, as the rapper enters a new venture by becoming a co-owner of Starbucks Russia, he is yet to reveal what he can bring to the table with Pinskiy.

Starbucks declined to comment on the story released by Forbes, where Pinskiy freely expressed his stance. However, the global company formally decided to exit and no longer had a brand presence in the Russian market publicly earlier. The exit happened 15 years after Starbucks first entered Russia and opened nearly 130 stores across the country. Until the acquisition of Pinskiy,


Starbucks was operated by its licensee Alshaya Group, which provided opportunities to over 2,000 employees in Russia.

Probably, it was a mistake made in a rush by Alshaya Group, but the thus is it can influence the reputation of the chain and stocks of Starbucks on the global market.

Howard Schultz has long protected the legacy of Starbucks and its chain of stores in Russia for decades. However, as the management is being handed over to pro-war partners Pinskiy and Timati, the company is yet to see what changes will take place and what the future of the brand would look like in the hands of its pro-war leaders.

The Vedomosti Daily also reported that the deal would lead to the rebranding of Starbucks in Russia, and the deal to buy the lease rights for the coffee shops is nearly closing.

Report this Content
This article has not been reviewed by Odyssey HQ and solely reflects the ideas and opinions of the creator.
the beatles
Wikipedia Commons

For as long as I can remember, I have been listening to The Beatles. Every year, my mom would appropriately blast “Birthday” on anyone’s birthday. I knew all of the words to “Back In The U.S.S.R” by the time I was 5 (Even though I had no idea what or where the U.S.S.R was). I grew up with John, Paul, George, and Ringo instead Justin, JC, Joey, Chris and Lance (I had to google N*SYNC to remember their names). The highlight of my short life was Paul McCartney in concert twice. I’m not someone to “fangirl” but those days I fangirled hard. The music of The Beatles has gotten me through everything. Their songs have brought me more joy, peace, and comfort. I can listen to them in any situation and find what I need. Here are the best lyrics from The Beatles for every and any occasion.

Keep Reading...Show less
Being Invisible The Best Super Power

The best superpower ever? Being invisible of course. Imagine just being able to go from seen to unseen on a dime. Who wouldn't want to have the opportunity to be invisible? Superman and Batman have nothing on being invisible with their superhero abilities. Here are some things that you could do while being invisible, because being invisible can benefit your social life too.

Keep Reading...Show less
houses under green sky
Photo by Alev Takil on Unsplash

Small towns certainly have their pros and cons. Many people who grow up in small towns find themselves counting the days until they get to escape their roots and plant new ones in bigger, "better" places. And that's fine. I'd be lying if I said I hadn't thought those same thoughts before too. We all have, but they say it's important to remember where you came from. When I think about where I come from, I can't help having an overwhelming feeling of gratitude for my roots. Being from a small town has taught me so many important lessons that I will carry with me for the rest of my life.

Keep Reading...Show less
​a woman sitting at a table having a coffee
nappy.co

I can't say "thank you" enough to express how grateful I am for you coming into my life. You have made such a huge impact on my life. I would not be the person I am today without you and I know that you will keep inspiring me to become an even better version of myself.

Keep Reading...Show less
Student Life

Waitlisted for a College Class? Here's What to Do!

Dealing with the inevitable realities of college life.

96175
college students waiting in a long line in the hallway
StableDiffusion

Course registration at college can be a big hassle and is almost never talked about. Classes you want to take fill up before you get a chance to register. You might change your mind about a class you want to take and must struggle to find another class to fit in the same time period. You also have to make sure no classes clash by time. Like I said, it's a big hassle.

This semester, I was waitlisted for two classes. Most people in this situation, especially first years, freak out because they don't know what to do. Here is what you should do when this happens.

Keep Reading...Show less

Subscribe to Our Newsletter

Facebook Comments