Teremok eyeing opportunity to enter Chinese market

Business & Economy January 22, 15:15

Concerning Russia, the restaurant chain is primarily considering the entry to cities with the population over one million

MOSCOW, January 22. /TASS/. The Teremok restaurant chain have received several addresses with a proposal to enter the Chinese market, company founder Mikhail Goncharov said at a press conference.

"Chinese are the most active now with the desire to invite us. Several addresses are in place from the level of a head of province, a city mayor. But they play a little bit an ethnic game so far, that is, they want these are like projects for tourists, including Russian cuisine. And I believe the business should be for everyone. That is, just like exotic, this is not very interesting," Goncharov said.

Concerning Russia, the chain is primarily considering the entry to cities with the population over one million. "Samara, Novosibirsk. There is even a potential local partner from Novosibirsk, a major restaurant owner," he said. "This will be partnership, franchising with partnership," Goncharov said.

Goncharov told TASS about his plans to hold a meeting with potential partners from China.

"I plan to at least meet the ones taking interest and get to know how they are ready, for example, to help us. If there is investment support indeed, then certainly, it can be considered. As I understand now, entering a new country means huge investments. Exactly because you offer an unknown product," the businessman said.

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