Skip to main content
Ginza Project
When the 2008 financial crisis emptied Moscow restaurants, Vadim Lapin doubled his venue count. When 2014 sanctions banned European ingredients, he pivoted to Georgian cuisine. When COVID shuttered Russia, all 4,000 employees returned. Four national crises in twenty years—each one transformed into market share.
Transformation Arc
When the 2008 financial crisis emptied restaurants across Moscow and St. Petersburg, most operators retreated. Vadim Lapin doubled his venue count. That counter-cyclical instinct—treating crisis as opportunity rather than obstacle—has defined Ginza Project through four national economic shocks.
The St. Petersburg Empire
Ginza Project dominates Russia’s cultural capital with a density no competitor has matched. More than 60 venues across St. Petersburg span every category from SIXTY, Europe’s highest restaurant perched 342 meters above Moscow in Federation Tower, to Terrassa’s rooftop views of Kazan Cathedral, to the nostalgic Soviet-apartment warmth of Mari Vanna. The holding operates approximately 150 projects including active restaurants, hotels, catering services, and gastro-markets.
The group’s competitive positioning differs fundamentally from Moscow-based rivals. Where Arkady Novikov built spectacle at scale and Boris Zarkov’s White Rabbit Family pursued Michelin stars and World’s 50 Best rankings, Lapin built regional dominance first. St. Petersburg’s concentration gave Ginza pricing power, staff loyalty, and supply chain efficiency that proved essential when crises hit.
Crisis as Strategy
The pattern emerged clearly in 2008. As the global financial crisis contracted Russian consumer spending, the Yaposha chain pioneered 30% rent reduction demands. When landlords balked, Ginza prepared to walk. When competitors closed, Ginza expanded—doubling from 25 to 50+ venues while others retreated.
The 2014 Crimea sanctions tested different muscles. European ingredient bans eliminated parmesan and much of what fine dining menus required. Lapin’s response was strategic menu diversification: Georgian, Uzbek, and Russian cuisines that sourced domestically. The holding’s Elarji, Tinatin, and ChaCha concepts expanded as alternatives to import-dependent European restaurants.
COVID-19 in 2020 forced complete closures from late March through May. Where 40% of Russian restaurants closed permanently, Ginza’s delivery service—operating since 2007—provided revenue continuity. More remarkably, all 4,000 employees returned after lockdowns lifted. Lapin later reflected: “4,000 people work at Ginza, and after the crisis they all returned—isn’t that an indicator?”
The 2022 sanctions regime brought the most severe test yet. Western brands exited Russia entirely. Supply chains fractured. Payment systems faltered. Initial fine dining guest counts dropped 25-30%. Ginza responded with geographic democratization—expanding into “bedroom communities” like Ozerki, Kudrovo, and Murino where middle-class families replaced international tourists.
The Quality Mark Model
Unlike Novikov’s franchise approach or White Rabbit’s direct ownership of gastronomic flagships, Ginza pioneered a “quality mark” certification model unique in Russian hospitality. External restaurant operators can apply for Ginza certification, gaining access to the brand’s reputation, supply chain, and operational expertise without capital investment from the holding. Revenue comes from management fees (20-30%) rather than ownership stakes.
This capital-light expansion enabled Ginza to grow through crises when competitors lacked investment capacity. The model requires disciplined quality control—Lapin famously learned the r_keeper POS system personally to monitor every transaction: “Not a single cup of coffee passes me by.”
International Proof Points
Mari Vanna validated the export potential of Russian hospitality concepts. The nostalgic Soviet-era apartment restaurant—complete with matryoshkas, lace tablecloths, and typewriters—opened in New York’s Flatiron District in 2009, London’s Knightsbridge in 2012, and Baku by 2014. The concept’s VIP key program grants special access across all locations; the Mayor of New York holds one.
SIXTY, opened in 2011 on the 62nd floor of Moscow’s Federation Tower, demonstrated ambition beyond St. Petersburg’s regional market. At 342 meters, it remains Europe’s highest restaurant—with panoramic windows that actually open, a feature unavailable at comparable heights anywhere else.
Michelin Recognition and Market Position
The 2022 Michelin Guide to Moscow provided external validation during the group’s most challenging period. Five Ginza venues received recognition: Butler, Elarji, and AQ Kitchen earned Recommended status, while Uilliam’s and Rybtor received Bib Gourmand designations. For a holding built on operational efficiency rather than culinary innovation, the recognition confirmed quality standards that sometimes go unacknowledged in multi-concept groups.
Ginza’s competitive position reflects these distinctions. Against Novikov Group’s 350+ venues across 12+ countries, Ginza chose regional depth over global breadth. Against White Rabbit Family’s three Michelin stars and #13 peak ranking on World’s 50 Best, Ginza chose accessible mid-market positioning over ultra-premium exclusivity. Neither competitor has matched Ginza’s crisis documentation: four national economic shocks survived and converted into growth opportunities.
The Succession Equation
At 61, Lapin has begun transitioning ownership to the next generation. Son Mark Lapin, a law school graduate now partnering in the holding, won “Best Restaurant St. Petersburg” in 2021 for his independent concept Grecco. Daughter Karina holds ownership shares in family businesses. Lapin transferred shares in 38 companies to his children between 2014-2018.
The transition philosophy matches the operating philosophy: earned, not inherited. Lapin has stated publicly: “I don’t consider you an ‘heir’ or us a ‘dynasty.’” Whether Mark and Karina can navigate future crises with the same counter-cyclical instincts their father demonstrated remains the holding’s central strategic question.
The Latin motto that Lapin adopted early in his career—Labor omnia vincit improbus, persistent work conquers all—encapsulates both legacy and lesson. Four crises refined a simple principle: when prepared operators expand during downturns, they capture market share that takes decades to reclaim in stable times.