The Ukrainian restaurant chain Lviv Croissants has entered the US market, where it has invested $220 thousand together with a partner to open a bakery and produce frozen croissants in the suburbs of Atlanta, Georgia.
“Lviv Croissants is now in America! The first Lviv Croissants bakery in the United States is located in the suburbs of Atlanta, Georgia, and is already welcoming its first guests. Locals love quality healthy food, and we know how to cook it, so it’s a total match. We also know how to surprise with a variety of flavors, create a friendly atmosphere and a sense of a place where you can be yourself,” the company’s website says.
Lviv Croissants founder Andriy Galytsky told the Forbes Entrepreneurs Forum that the company had been preparing for two years to enter the US market, while it took about five months to prepare for European markets. This is the third expansion of the Ukrainian chain abroad after Poland and Slovakia.
The co-owner and CEO of the American restaurant is a local entrepreneur, Brett Larrabee, whom Galitsky met at a franchise exhibition in New York in 2018. Larrabee has 37 years of experience in restaurant franchising, including the development of the American brands Five Guys, Famous Daves BBQ, Little Caesars, Subway, and Pancheros, Forbes reports.
Lviv Croissants is a Ukrainian international franchise restaurant chain founded in 2015. It specializes in making croissants and has 177 locations in Ukraine, 11 in Poland and 1 in Slovakia. It is part of the Fast Food Franchising Group.
Fast Food Franchising Group LLC was founded in 2015 in Lviv.
The company’s net loss in 2023 amounted to UAH 598.3 thousand compared to UAH 483 thousand of net profit a year earlier. Last year’s revenue increased by 55.1% to UAH 6.939 million, debt increased 9.7 times to UAH 188.9 thousand, while assets decreased by 19% to UAH 1.89 million.
The beneficiaries of the company are PE Firm Infobud, which owns 50% of the shares, Yevhen and Andriy Galitsky (20% each), and Yuriy Zagrodsky (10%).
Ukrainian restaurant chain Lviv Croissants has entered the US market, where together with a partner it invested $220 thousand in opening a bakery and production of frozen croissants in the suburbs of Atlanta, Georgia.
“Lviv Croissants is now in America! The first Lviv Croissants bakery in the United States is located in the suburbs of Atlanta, Georgia and is already receiving its first guests. Locals love quality healthy food, and we know how to cook it, so it’s a total match. And we also know how to surprise with a variety of flavors, create a friendly atmosphere and a sense of place where you can be yourself,” the company’s website says.
Lviv Croissants founder Andriy Galitsky told Forbes Entrepreneurs Forum that the company spent two years preparing to enter the U.S. market, while it took about five months to prepare to enter the European markets. This is the third expansion of the Ukrainian chain abroad after Poland and Slovakia.
The co-owner and CEO of the American restaurant is local entrepreneur Brett Larrabee, whom Galitsky met at a franchising expo in New York in 2018. Larrabee has been working in restaurant franchising for 37 years, notably developing the American brands Five Guys, Famous Daves BBQ, Little Caesars, Subway and Pancheros, Forbes writes.
Lviv Croissants is a Ukrainian international franchise restaurant chain founded in 2015. It specializes in making croissants, has 177 establishments in Ukraine, 11 in Poland and 1 in Slovakia. It is a part of Fast Food Franchising Group.
Fast Food Franchising Group LLC was founded in 2015 in Lviv.
The company’s net loss in 2023 amounted to UAH 598.3 thousand, compared to UAH 483 thousand net profit a year earlier. Income for last year increased by 55.1%, to UAH 6.939 million, debt obligations – by 9.7 times, to UAH 188.9 thousand, while assets decreased by 19%, to UAH 1.89 million.
Beneficiaries of the company are PE Firma Infobud, which owns 50% of shares, Eugene and Andrei Galitsky (20% each), as well as Yuri Zagrodsky (10%).
bakery opening, frozen croissants, Lviv Croissants, restaurant chain, US MARKET
In January-July this year, Ukraine increased imports of aluminum ore and concentrate (bauxite) in physical terms by 5% compared to the same period last year, up to 6,772 thousand tons.
According to statistics released by the State Customs Service (SCS) on Friday, bauxite imports in monetary terms increased by 22.8% to $980 thousand during this period.
At the same time, imports were carried out mainly from Turkey (63.81% of supplies in monetary terms), China (28.64%) and Spain (7.54%).
Ukraine did not re-export bauxite in the same period of this year as in January-July 2023.
As reported, in 2022, Ukraine reduced imports of aluminum ore and concentrate (bauxite) in physical terms by 81.5% compared to the previous year – to 945.396 thousand tons. Imports of bauxite in monetary terms decreased by 79.6% to $48.166 million. Imports were mainly from Guinea (58.90% of supplies in monetary terms), Brazil (27.19%) and Ghana (7.48%).
In 2023, Ukraine imported 19,830 thousand tons of bauxite worth $2.360 million.
Bauxite is an aluminum ore used as a raw material to produce alumina, which is used to make aluminum. They are also used as fluxes in ferrous metallurgy.
Mykolaiv Alumina Plant (MAP) imports bauxite to Ukraine.
Geographic structure of Ukraine’s foreign trade (trade volume) in Jan-May 2024, mln USD
Source: Open4Business.com.ua
On Monday, benchmark crude oil prices rose for the fifth consecutive trading session due to fears of possible supply disruptions due to the escalating conflict in the Middle East.
“Tensions in the Middle East, which could escalate at any time and push prices up further, are providing support,” said Barbara Lambrecht, commodities analyst at Commerzbank. According to her, “geopolitical risks are likely to continue to have a significant impact on oil price trends” this week, MarketWatch reports.
In addition, last week’s US statistics were better than expected, which calmed concerns about a possible recession in the country’s economy, Trading Economics writes. They also confirmed traders’ confidence that the Federal Reserve will cut interest rates next month. This may help to increase demand for fuel.
Quotations for October futures for Brent on the London ICE Futures exchange as of 8:01 a.m. amounted to $79.88 per barrel, which is $0.22 (0.3%) higher than the level at the close of the previous trading. On Friday, these contracts rose by $0.5 (0.6%) to $79.66 per barrel.
September futures for WTI in electronic trading on the New York Mercantile Exchange (NYMEX) are up $0.36 (0.5%) to $77.2 per barrel in the morning. At the end of the previous session, the price of these contracts increased by $0.65 (0.9%) to $76.84 per barrel.
Last week, the price of Brent rose by 3.7%, and WTI by 4.5%. Thus, oil finished the first week of five in the black.
Ukraine has won 12 medals at the 2024 Olympic Games.
“Ukraine won gold: Oleksandr Khyzhnyak (boxing up to 80 kg); Yaroslava Maguchikh (high jump); Olga Harlan, Alina Komashchuk, Olena Kravatska and Yulia Bakastova (team sabre).
The following won silver medals: Parviz Nasibov (Greco-Roman wrestling up to 67 kg); Iryna Kolyadenko (freestyle wrestling up to 62 kg); Lyudmyla Luzan and Anastasiia Rybachok (canoe double sprint, 500 m); Ilya Kovtun (parallel bars); Serhii Kulish (rifle shooting from 50 m from three positions).
The bronze medalists were: Zhan Beleniuk (Greco-Roman wrestling up to 87 kg); Mykhailo Kokhan (hammer throw); Iryna Gerashchenko (high jump); Olga Harlan (sabre).
As of 15:00, Ukraine ranks 22nd in the medal standings.
The 2024 Olympic Games were held in Paris from July 26 to August 11.
