Cofix, an Israeli coffee shop, bar and supermarket chain, has found partners to start expansion into the Russian market. Satesh Melwany, CEO at Melson Group (developer and food producer), and Mikhail and Grigoriy Pecherskiy, managing partners at ADG Group (developer) have closed the deal that will bring 1000 new coffee shops to Russia. Cumulative share of the partners in Russia will be about 62%.
The company’s plan is to open three coffee shops in Moscow first. The second stage is to reach a number of 300 places in the city by selling franchise, then add 700 coffee shops across the country.
The coffee shop format is fixed low price, so the company intends to sell coffee and other products at a fixed price of 50 rubles , about $0.8 (vedomosti.ru).