Russia’s version of McDonald's Corp (NYSE:MCD) is set to re-open on Sunday, with a new name and logo following the fast-food giants' not-so-graceful exit from the country. According to The Guardian, the grand reopening falls on Russia Day, which is a country-wide holiday that celebrates Russia’s independence.
Here’s a little background and context surrounding the matter:
In March, less than two weeks after Russia attacked Ukraine, McDonald's briefly ceased operations in the nation.
On May 16, the company released a statement, noting it would leave the country after 30 years of operation, saying:
“The humanitarian crisis caused by the war in Ukraine, and the precipitating unpredictable operating environment, have led McDonald’s to conclude that continued ownership of the business in Russia is no longer tenable, nor is it consistent with McDonald’s values.”
As part of McDonald’s decision to exit, the company pursued the sale of its entire portfolio of McDonald’s restaurants in Russia to a local buyer.
Alexander Govor, who previously owned and operated 25 McDonald's restaurants in Serbia, is the buyer. It should be emphasized, however, that McDonald's has the ability to repurchase all of its locations within 15 years under the deal. This implies that McDonald's sees potential in Russian markets, and assumes geopolitical tensions will ease in the next decade or so.
This is the new logo that will replace the McDonalds logo in Russia. pic.twitter.com/SpLbmVsrih— Aj (@aj_whoWrites) June 10, 2022
The new logo features two lines and a circle, which can be seen as two french fries and a burger patty.
"The green background of the logo symbolizes the quality of products and service that our guests are accustomed to. The logo will be used in the advertising campaign that we are launching [yesterday]," said a spokesperson of Sistema PBO LLC, the company that now manages Mcdonald's in Russia.
The McDonald's app in Russia has been renamed "My Burger," according to Russia's RIA Novosti news agency. This was a temporary moniker, in order to comply with the obligation to remove the McDonald's brand.
While the new restaurant chain’s name has yet to be unveiled, it is reportedly considering eight new names. ‘The Same One’ and ‘Available Cash Register’, to name a couple.
Watch Russians react to McDonald's leaving the country
Photo courtesy of Shutterstock.