Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

Russia's McDonald's successor applies for trademark in Kazakhstan

Published 01/16/2023, 03:16 AM
Updated 01/16/2023, 09:21 AM
© Reuters. FILE PHOTO: People gather near the new restaurant "Vkusno & tochka", which opens following McDonald's Corp company's exit from the Russian market, in Moscow, Russia June 12, 2022. REUTERS/Evgenia Novozhenina

ASTANA (Reuters) - Vkusno & tochka, the Russian successor brand to McDonald's (NYSE:MCD), has applied to have its trademarks registered in neighbouring Kazakhstan following the U.S. company's exit from its market, the Kazakh government said on Monday.

McDonald's and its Kazakh licensee terminated their agreement this month, citing supply issues.

Sources earlier told Reuters McDonald's Kazakhstan had stopped buying supplies from Russia and had trouble replacing them.

McDonald's closed its Russian restaurants soon after Moscow sent tens of thousands of troops into Ukraine last February, eventually selling to a local licensee, Alexander Govor, who unveiled the Vkusno & tochka brand in June.

The Russian company did not immediately reply to a request for comment.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.