Connect with us

Headlines

Starbucks to Shutter Stores in Russia

The retailer will close its 130 locations in the region

mm

Published

on

The New York Starbucks Roastery store. Courtesy of Starbucks

Starbucks (Seattle) is pulling out of the Russian market and closing 130 of its stores in the country, according to ABC News. The news follows a recent announcement from McDonald’s (Chicago) regarding its exit from the Russian market last week.

Starbucks plans on paying its current 2000 Russian employees for six months post-shut down in order to help them with the transition.

Starbucks CEO Kevin Johnson says, “Through this dynamic situation, we will continue to make decisions that are true to our mission and values and communicate with transparency.”

Starbucks began opening stores in Russia in 2007.

Advertisement

FEATURED VIDEO

MasterClass: ‘Re-Sparkling’ Retail: Using Store Design to Build Trust, Faith and Brand Loyalty

HOW CAN WE EMPOWER and inspire senior leaders to see design as an investment for future retail growth? This session, led by retail design expert Ian Johnston from Quinine Design, explores how physical stores remain unmatched in the ability to build trust, faith, and loyalty with your customers, ultimately driving shareholder value.

Presented by:
Ian Johnston
Founder and Creative Director, Quinine Design

Promoted Headlines

Advertisement
Advertisement

Subscribe

Advertisement

Facebook

Most Popular