Heir to McDonald's Russia craves success but Big Mac a 'big loss'

Chief Executive Oleg Paroev is keen to add locations

Big Macs and McFlurrys may be off the menu at McDonald's successor restaurants in Russia, but the new firm has ambitious growth targets after it sold almost 120,000 burgers, a record, on its opening day, its chief executive told, Qazet.az reports citing Reuters.

McDonald's Corp (MCD.N) has fully exited Russia, selling all the restaurants it owned to a local licensee in May. Under new name Vkusno & tochka, or "Tasty and that's it," 50 restaurants in and around Moscow reopened on June 12 and June 13.

Chief Executive Oleg Paroev is keen to add locations, but acknowledged the challenge of replacing some ingredients and suppliers, as well as dealing with other franchisees still using McDonald's branding.

The McDonald's exit saga shows both how difficult it is for Western consumer businesses that decided to leave over Moscow's actions in Ukraine to sever all ties to Russia and for local operators to replace popular brands.