Early Life
Sergey Nikolayevich Arutyunyan, better known as Sergei Galitsky, was born on August 14, 1967, in Lazarevskoye, a suburb of Sochi, Russia. His mother is Russian, and his father is Russian-Armenian. He later adopted his wife's surname. Galitsky served in the Soviet army from 1985 to 1987.
Rise to Success
Galitsky graduated from the Economics faculty of Kuban State University in 1993. His career took off in 1989 when he started working in a commercial bank in Krasnodar while still a second-year student. In 1994, he founded the wholesale trading company "Transasia." The following year, he established "Tander," which would later become the foundation of his retail empire. In 1998, he built the first grocery store under the name "Magnit" in Krasnodar. He advertised using the slogan "Always Low Prices." He took the company public in 2006.
Key Business Strategies
Galitsky focused on aggressive expansion and efficient operations to establish Magnit as a dominant player in the food retail sector. The company utilized a multi-format model, including convenience stores, supermarkets, and cosmetics stores. He also ventured into the wine business in 2019, cultivating grapes near Gostagaevskaya in Krasnodar Krai and introducing his own wine brand called Galitsky & Galitsky.
Philanthropy
Galitsky is committed to community development and has made significant contributions to sports and infrastructure in the region. He founded FC Krasnodar in 2008 and invested in the construction of the Krasnodar Stadium. He also spent $70 million on a park near his soccer stadium, planting 2,500 trees.