Sergei Galitsky

Sergei Galitsky: Career Highlights

Galitsky's career took off in 1989 when he started working in a commercial bank in Krasnodar while still a second-year student. He graduated from the Economics faculty of Kuban State University in 1993.

In 1994, Galitsky founded the company "Transasia," which traded wholesale cosmetics and perfumery. The following year, he established "Tander," which would later become the foundation of his retail empire.

In 1998, Galitsky built the first distribution center and opened the first grocery store under the name "Magnit" in Krasnodar. This marked the beginning of Magnit's journey to becoming Russia's largest retailer.

Galitsky made a strategic shift in 2000 by transitioning from wholesale to retail operations. This decision proved to be highly successful, as Magnit rapidly expanded its network of stores, becoming the largest in Russia by the number of outlets.

A significant milestone was reached in 2006 when Magnit conducted an initial public offering (IPO), valuing the company at an impressive $1.9 billion.

Galitsky's entrepreneurial spirit extended beyond retail. In 2008, he founded FC Krasnodar, a professional football club based in Krasnodar. His commitment to the club was further demonstrated when he financed the construction of the Krasnodar Stadium in 2013.

In 2018, Galitsky sold a 29.1% stake in Magnit to Russian bank VTB for 138 billion rubles, a testament to the company's remarkable growth and success.

Galitsky ventured into the wine business in 2019, cultivating grapes near Gostagaevskaya in Krasnodar Krai and introducing his own wine brand called Galitsky & Galitsky.