Early Life
Kiril Petrov Domuschiev was born on April 18, 1969, in Sofia, Bulgaria. He completed his secondary education at the 9th French Secondary Language School Alphonse de Lamartine. He later earned a master's degree in Industrial Management and Marketing from the Technical University, Sofia. In the early 1990s, following the fall of communism in Bulgaria, Domuschiev, along with his brother Georgi, began establishing businesses, initially trading in clothing and footwear.
Rise to Success
Domuschiev's entrepreneurial journey took a significant turn in 1996 when he established the privatization fund Napredak Holding AD. Through this fund, he acquired shares in numerous Bulgarian companies operating in various industrial sectors. In 1999, he launched his pharmaceutical business, Huvepharma EOOD, which later acquired Biovet AD, a veterinary products factory. Huvepharma expanded globally, becoming a leading player in the animal health sector. In 2003, Kiril and Georgi Domuschiev established Advance Properties OOD, which has interests in multiple industries. In 2010, Domuschiev invested in PFC Ludogorets Razgrad, a football club that achieved significant success under his ownership.
Key Business Strategies
Domuschiev's key business strategies include strategic investments in privatized state-owned firms and a focus on expanding and vertically integrating his businesses. The Domuschiev brothers have built a multibillion-dollar empire by privatizing state-owned firms and expanding them. For example, Huvepharma expanded to include production sites in Bulgaria, the United States, France, and Italy. They also owned Bulgaria's largest media TV network, Nova TV, before selling it in 2021.
Philanthropy
Kiril Domuschiev, with his wife Kremena, established the Kremena and Kiril Domuschiev Foundation in 2011. The foundation supports children's hospitals, specialist institutions, and various charitable activities. In 2023, he launched Domuschiev Impact, a new philanthropic arm of Advance Properties, dedicated to global initiatives. This initiative focuses on supporting sustainable development and addressing global challenges such as food security and the fight against malaria. Domuschiev is also involved with the Clinton Global Initiative.