Early Life
Artem Khachatryan was born on January 3, 1975. He graduated from the Moscow State Mining University with a Master of Science degree.
Rise to Success
Khachatryan co-founded the Russian discount retailer Fix Price in 2007 with Sergei Lomakin. The chain expanded to over 4,000 stores across Russia, Kazakhstan, Georgia, Belarus, Latvia, Kyrgyzstan, and Uzbekistan. Fix Price went public in 2021. In December 2023, Khachatryan sold his entire stake in Fix Price and resigned from the board, citing family matters. He is also involved with the Galaxy Group, curating and developing retail and hospitality industries.
Key Business Strategies
The success of Fix Price was built on offering basic goods at predictable, cheap prices. The company's expansion strategy involved rapid growth through franchising and adapting to market conditions, such as the 2014 ruble collapse, by adjusting import strategies. Khachatryan has also shown an aptitude for strategic management, business negotiations, and corporate innovation.
Philanthropy
While specific philanthropy amounts are not readily available, Khachatryan was awarded the highest order of St. Gregory the Illuminator by the Armenian Apostolic Church for his service and contribution to the Holy Church and the homeland.