CANTON, Mass., April 28 (UPI) -- U.S. coffee and pastry giant Dunkin' Donuts said it was heading back to Russia, the country it abandoned 11 years ago due to a lack of profits.
On its side this time is a burgeoning coffee habit in Russia, which was a $13 million a year business in 2009 in Russia -- primarily a tea-drinking culture -- that grew to $575 million in 2009, The Wall Street Journal reported Wednesday.
Dunkin' Donuts said it planned to start with 20 stores this year and that it had hired Konstantin Petrov, a Russian real-estate developer, to spot locations to build up its business.
The chain will also rely on Chief Executive Officer Nigel Travis, who helped Papa John's International Inc. establish a presence in Russia in his pre-Dunkin' Donuts years.
Travis became CEO of Dunkin' Donuts in 2009.
"There's a growing middle class in Russia, a strong movement toward American brands and a relative lack of competition," Travis said.
