Early Life and Education
Nikolay Fartushnyak was born in Krivoy Rog, Ukraine, and later became a Russian citizen. He studied engineering at the Moscow Institute of Physics and Technology.
Rise to Success
In the early 1990s, following the dissolution of the Soviet Union, Nikolay, along with his brother Vladimir and partners, started a business to distribute German Kettler fitness equipment. Recognizing a gap in the market, they opened the first Sportmaster store in Moscow in 1997. The company expanded rapidly, becoming a dominant player in the sporting goods retail market across Russia and neighboring countries. In 2014 Fartushnyak and Igor Khudokormov, known as the "Russian sugar king," bought Swedish company Agrokultura.
Key Business Strategies
Sportmaster's success was built on a multi-brand retail strategy, offering a wide range of products for sports and active recreation. The company also introduced private-label brands, allowing them to offer competitive prices. Fartushnyak's focus on strategic growth and partnerships, combined with his brother Vladimir's operational expertise, fueled their expansion.
Philanthropy
There are reports that Fartushnyak has been involved in philanthropy, funding education and healthcare projects in Russia. However, the details of these initiatives and the amounts donated are not readily available.