Dmitriy Punin: “We see great potential in developing spaces that blend dining with entertainment”

Dmitriy Punin, Founder of Punin Group, has lived in Cyprus with his family since 2019 and has since become a very active fixture in the island’s business scene – particularly in HoReCa. Indeed, his Group has so far established the restaurants Le Frenchie by Punin, Le Petite Marché, which is set to open soon, as well as TOY Confectionery by Punin in Limassol.

Driven by his love of fine wine, he has no intention of slowing down, with one of his current focuses being on developing spaces that blend dining with entertainment – something he sees great potential in. Here he speaks to CBN about what brought him to the island and his future plans.

You have mentioned that placing Cyprus on the international culinary map is among Punin Group’s top priorities. To this end, you have established Le Frenchie, Le Petit Marché, which is set to open soon, as well as TOY Confectionery by Punin in Limassol. Do you plan to open more culinary destinations? And will you be expanding to more towns?

We are committed to excellence and therefore, we study each step separately and with great focus to detail. Our current destinations are being improved, optimised and constantly updated to reach new heights in excellence and customer satisfaction. Our headquarters are in Limassol, but we are interested in expanding our presence in other cities in Cyprus.

The wine menu of Le Frenchie by PUNIN recently received an international Wine Spectator award. Along with gastronomy, fine wine is also important to you, leading you to create the Punin Wine Label. Can you tell us a bit more about this label and its products? What is most important to you when it comes to fine wine?

Wine has a special place in my heart. I am interested in all the stages of creating an excellent wine, from the vineyards and the quality of the grapes, as well as the infrastructure of a winery and the equipment needed to create a truly memorable experience and put it in a bottle.

When we created Punin Wine, which offers wines of exceptional quality with refined flavours that highlight the art of winemaking in every sip, we wanted to bring quality wines from abroad to introduce them to the Cypriot audience and at the same time elevate the local wines. Through a highly selective process, we have over 7,000 bottles of alcoholic beverages from different countries and locally produced wines which are also served at the Mixology Bar.

Do you plan to create your own locally-produced wines and if so to export those abroad?

Cyprus is a beautiful island that we are happy to call home. At present, we want to continue providing top-notch wines, by choosing to import refined wines to the Cypriot audience, while planning our next ambitious plans to further grow and expand our horizons in this sector.

You have a very diversified portfolio. How was it created? Is it through acquisitions and if so, how do you earmark which business to acquire?

We are interested in acquisitions and also building businesses from scratch, so we can be sure that they are up to our expected level. I believe that we have set very high standards with Punin Wine, Toy Confectionery, Zante Venue etc., as we offer premium products and services. Therefore, we study each possible acquisition or business launch and we act accordingly.

Besides our work in HoReCa, we’re also involved in real estate. We manage office centres and retail spaces that support a wide range of businesses. Our projects also include mixed-use developments that bring together living, working, and leisure spaces. These are designed to create vibrant enterprises and help drive growth in Cyprus. Our goal is to build places that not only serve business needs but also make life better for the people who use them.

You are very appreciative of the local community and say your vision is to enhance the quality of residents’ lives, promote local talent, and build strong ties with the Cypriot community. Can you elaborate further?

It is important to note that since 2019, me and my family live permanently on the island, apart from doing business. It’s, therefore, one of my main priorities to enhance the quality of life for the people who work or cooperate with Punin Group, by offering excellent employment opportunities across key sectors, particularly in dining, real estate, and mixed-use developments. We are committed to creating jobs that not only provide stable incomes but also opportunities for growth and career development.

We have plans to continue expanding our Corporate Social Responsibility program to nurture a brighter future for the people of Cyprus.

Can you tell us, in your opinion, which sectors in Cyprus currently have the most potential for investment?

The food and beverage industry, particularly in the areas of dining and entertainment, holds significant potential for investment in Cyprus. With the country’s appeal as a tourist destination, there is a tremendous opportunity to elevate the quality of experiences offered to visitors, but also to the people living in Cyprus. This goes beyond providing excellent food and drink, it’s about creating memorable experiences for the visitors and the locals.

If we offer superior service, inventive concepts, and high-quality products, we can set new standards that make Cyprus stand out as a top tourist destination.

In addition, we see great potential in developing spaces that blend dining with entertainment. These types of venues attract visitors and contribute to the vibrant local culture and nightlife of Cyprus.

By investing in these areas, we are not just improving the experience for visitors but also enriching the quality of life for the people who live here.

After arriving in Cyprus in 2019, you have said you now count Cyprus as your home. How has your experience been of living – and doing business – in Cyprus?

Cyprus is a very hospitable country and I am grateful for the life my family has been able to enjoy here. I love being close to the sea, in a safe and welcoming environment and Limassol has been the ideal place for us. That being said, Cyprus offers a very attractive environment for investors and businesses, apart from the corporate tax structure.

It is a well-regulated environment, affording opportunities to businesses and investors and fostering innovation. There might be some areas for improvement, but the government and the authorities are doing their best and remain committed to helping businesses grow and raise the quality of life for everyone.